Bitcoin: What Should We Expect from This Market?

Bitcoin: What Should We Expect from This Market?

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

DLavrov

Bitcoin keeps moving in the borders of the triangle. The direction of the breakout will show us further market movement, and it will give us an excellent trading opportunity. As for now, it is better to wait and do nothing. Staying in the market without trades, it is also a position and sometimes rather profitable.

If we look at the indicators, they will provide us the following signals:
– RSI line moves downward at 50 level, and it is a more bearish signal
– MACD histogram supports a downward movement
– MACD lines support the upward movement
– DMI tells us about the range market conditions.

We can see the consolidating market, which prepares to a new trend movement. For this, we just need to get the breakout from the triangle and fundamental support.

And what do you expect from Bitcoin in the nearest 1-2 months? Please, share your thoughts in comments. Let’s discuss!

P.S. Thank you very much for your interest to my work! If you want to get more trading ideas, market overviews, and tutorials, please, click the LIKE button and leave your feedback! I will be very grateful!
Source: TW DLavrov

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