Control zones for Bitcoin on 06/14/19

Bitcoin continues to trade in the medium-term accumulation zone. Yesterday, the price consolidated above $ 8000, which indicates an increase in the probability of growth to $9000.

Working in the framework of the medium-term flat involves the retention of purchases from the lower limit at $7500. The goal of growth is the maximum of the current year formed a little above $9000. It is important to understand that growth remains a strong medium-term impulse. This allows you to keep purchases open below $7000.

mt5_analytics5d034361c7b87.png

Working inside the flat provides opportunities for partial fixation of profit at significant weekly resistance levels. Now, the course is above the significant support of $8000 with the next goal possible at $8500.

An alternative model will be developed in the event that the close of trading this week will occur below $8000. This fact will allow considering the next reduction to the support of $7500, which was already tested three times in the current month. At the moment, the probability of the formation of the downward movement is 30%, which makes this model an auxiliary.

mt5_analytics5d034379ac35e.png

Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.

Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.

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