Daily chart:

Attempts to reanimate the Bitcoin resemble the true reanimation of hopeless patient. Correction didn’t reach even the middle Bollinger band and now a threat of tumble towards 3000.00 (lower Bollinger band) emerges again.

BTC/USD Market Technical Outlook: 'Trend Potential'

1

H4-chart:

Locally the coin drops to the lower bands, that makes actual the target at local support 3562.74 (lower Bollinger band).

BTC/USD Market Technical Outlook: 'Trend Potential'

2

H1-chart:

A decline has a brutal nature intraday – lower Bollinger band is broken and ADX resides in a trending area. We expect bitcoin at the 3562.74 level.

BTC/USD Market Technical Outlook: 'Trend Potential'

3

Expectations:

So, we expect a drop towards 3562.74.

Trading recommendations:

Shorts towards 3562.74.

Artem Vinogradov, analyst at Fort Financial Services

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