FX.co ★ BTC analysis for July 29,.2020 - Watch for the breakout of the Bollinger bands contraction for further direction

Technical analysis:

BTC has been trading sideways at the price of $11,000 Today is FOMC day and I would watch for the brekaout of the Bollinger conraction pattern to confirm further direction.

Trading recommendation:

The upside breakout of the resistance at $11,170 would confirm test of $11,650 and in that case you should watch for buying on the up break.

The downside breakout of support at $10,800 can lead BTC for test of $10,300 and in that case you should watch for selling on the down break