Technical analysis for the stock market

BTCUSD technical analysis – 20 june 2020

Disclaimer: Any information contained in this website are the intellectual ownership of bigX. If you share this information, please reference the source link at bigX at all times and include this disclaimer.  The opinions, analysis, charts and pricing based in this market analysis do not constitute investment advice.  This should not be relied upon as your only source of market research and should never be used for actual trading decisions.  Our opinions and analysis are subject to change at any point and we will not accept liability for any losses directly or indirectly from this information.  You should never use just one source of information to make trading decisions, rather you should take your time and make an informed decision based on your own research.  Please note that past performance and analysis are no indicators for future results.

BTCUSD Hourly Chart Analysis

Consolidation in the price
Figure 1: bigX web trader, H1 chart

Key Points

  • The previous week we have already had a 10000 price challenge, and once again this week
  • Once again there has also been a bounce off from the 10000 price suggesting a strong resistance
  • The next price challenge is therefore 9000+ and 8500+

BTCUSD Four Hourly Analysis

Price testing the bearish trend line
Figure 2: bigX web trader, Four Hourly Chart

Key Points

  • This chart demonstrates a consolidation of the price
  • After a period of successive bullish movement we have reached a resistance level
  • We can expect a trend towards a support level before any further price movement up

BTCUSD Daily Analysis

Clear break of the bullish trendline
Figure 3: bigX web trader daily chart

Key Points

  • At the D1 timeframe we can visualise the multiple attempts to challenge 10000 level
  • This has now broken below an established trend up
  • We should expect at the longer term level a period of ranging before a significant move is made