BTC 11.06.2019 - Market in contraction mode, important pivot resistance is holding at $9.500.

BTC is still trading inside of the few-day balance and near the resistance at $9.500. There is the breakout of the upward trendline, which is good sign for the further downside.

Name: b-p-061119.jpg Views: 13 Size: 65.7 KB

Seems like that the important pivot at the price of $9.500 is holding and that selling opportunities are preferable with the target at $8.925.

To open long position you would need the BTC to go above $9.500 and then buy the dip with the target at $9.925.

MACD is showing contraction and very low volatility. Probably market is waiting for new information's outside and for bigger money to enter in order to establish new direction.

Bollinger Band is showing contraction and the best thing to do is to watch for potential breakout of contraction (trading range) in order to confirm further direction.



Name: s_jacimovic.png Views: 13 Size: 4.8 KB
Performed by Petar Jacimovic
Analytical expert
InstaForex Group © 2007-2019