Technical analysis for the stock market

BTCUSD technical analysis

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BTCUSD hourly chart analysis

Figure 1: bigX web trader, H1 BTCUSD chart

Key Points

  • The H1 chart should be used for short term trading position entry and exit
  • We are right in the middle of the price range 8000 and 5000
  • This suggests a hold pattern for any existing positions as the price could move either way
  • The support level 5000 and 6000 could easily be challenged again

BTCUSD four hourly analysis

Crypto bulls pushing the price higher
Figure 2: bigX web trader, BTCUSD Four Hourly Chart

Key Points

  • We have seen a bounce off support level at 1460
  • That support was challenged twice
  • We are now approaching a challenge of the resistance level at 7191
  • We are within a price range of 7200 – 5000
  • Given the market volatility, expect this to range for a short while

BTCUSD daily analysis

Anticipating key breakout in trading
Figure 3: bigX desktop trader BTCUSD Daily chart

Key Points

  • The daily chart reinforces the resistance price of 7200
  • This will then be a key challenge, which broken above will challenge 9400 again
  • If rejected, then the price will come back down to 5000 levels