BTC/USD 4H Chart: Slight downside retracement likely - Trade Pattern Ideas - Dukascopy Bank

Fri, 01 Nov 2019 06:54:04 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuyNeutral
SAR(0.02;0.2)SellBuySell
Aggregate

The Bitcoin cryptocurrency has appreciated about 31.34% in value against the US Dollar during last week's trading sessions. A breakout has occurred through the upper boundary of a descending channel pattern at 9121.9.

Given that a breakout had occurred, the BTC/USD pair will likely continue to edge higher within next week's trading sessions. The price could move past the $10000 mark in the shorter term.

However, the BTC/USD cryptocurrency is likely to make a brief downside retracement towards the 8478.4 area during the following trading sessions.


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