Traders doing technical analysis

BTCUSD technical analysis 01 july 2020

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BTCUSD hourly chart analysis

BTCUSD H1 chart analysis
Figure 1: bigX web trader, H1 chart

Key Points

  • The price has stablised around the 9000 level
  • Expect potential movement either to 10000 or 8000 (and beyond)
  • Currently the price is ranging – moving sideways
  • Usually this means a sharp price change will be coming soon

BTCUSD four hourly analysis

BTCUSD 4 hour chart
Figure 2: bigX web trader, Four Hourly Chart

Key Points

  • After a period of successive bullish movement we have reached a resistance level
  • The price has broken below the trend suggesting a correction / retracement to lower levels
  • We can analyse the longer term charts to understand what those challenges are

BTCUSD daily analysis

BTCUSD 1 day chart analysis
Figure 3: bigX web trader daily chart

Key Points

  • At the moment the price is moving slow, the candle body sizes are small
  • This is a period of consolidation
  • In periods like this a significant movement up or down will create a new range
  • Potential buying opportunities at the 8000 level, selling opportunities at the 10000 level
  • In slow ranging periods best to avoid trading until the range is broken out, but short term entries and exits could be the way forward for now