BTC 12.06.2019 – Contraction period, watch for the breakout of the trading range to confirm further direciton

Bitcoin is trading sideways at the price of $7.390. Price action on the hourly time-frame looks very flat and we got Bollinger bands contraction. Watch for potential breakout of the contraction. The resistance is set at $7.478 and the support at $7.253.

To open long position:

Watch for breakout of $7.478 and target at $7.722

To open short position:

Watch for breakout of the support $7.253 and target at $7.087

MACD oscillator is showing very low momentum , which confirms the sideways regime.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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