FX.co ★ #Bitcoin chart analysis

#Bitcoin / Bitcoin / BTCUSD. Good afternoon. Bitcoin made a very nice move to the upside yesterday, and the bullish bias remains in force today, so I continue to look to the upside as my preferred scenario. Technically, on the hourly chart the indicators remain bullish and favor further upside; the pair is currently in a local consolidation, after which it will be possible to consider opening a new long position — the next target is 82150-200 in the short term. At the same time one of the underlying indicators does not support the bullish bias, but it looks like it's simply running out of steam. Moreover, this phase is already coming to an end, so in the near term we will most likely see a new impulse upward. On the 4-hour chart the indicators also remain in favor of further upside; moreover, the Bollinger Bands are still widening here, which suggests a likelihood of continuation of the current upward impulse but in the medium term. Here too one of the underlying indicators has stopped supporting the bullish bias, but that does not negate it.