BTC/USD 4H Chart: Possible breakout - Trade Pattern Ideas - Dukascopy Bank
Mon, 17 Dec 2018 06:29:40 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Neutral
Buy
Buy
Stochastic (5; 3)
Neutral
Buy
Buy
Alligator (13; 8; 5)
Sell
Sell
Sell
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇘
⇒
⇒
Bitcoin cryptocurrency continued to edge lower against the US Dollar since last week. The pair has breached the $3500 mark during the previous week's trading session.
From a technical point of view, the cryptocurrency is likely to continue its downside risk. The potential target for the BTC/USD pair will be at the $2500 mark during the following trading sessions.
However, given that the blockchain is near a resistance level formed by the upper boundary of a descending channel pattern, a breakout could be expected within this session.
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