FX.co ★ teagan.orn | #Bitcoin chart analysis

#Bitcoin / Bitcoin / BTCUSD. Good afternoon. Bitcoin continued its move north today, then the bears woke up and are trying to seize the initiative. But it's still too early to open short positions here. Technically, on the hourly chart the indicators continue to point upwards, and the pair approached a test of the Bollinger middle band from above. So depending on a breakout or a rebound, that will show the further bias for the near term. Both scenarios are equally plausible, but I'm leaning more toward a breakout and decline, approximate target 84000-100 in the short term. On the 4-hour chart the indicators also point upwards, but here the secondary indicators at the moment do not really support the development of the bullish bias. Also, on the last bullish candles the Bollinger channel began to narrow, limiting further upward movement. And the pair bounced off the upper band, so there's a possibility of walking down to the lower band in the local perspective. And on a more global scale a move to the downside is already becoming visible.