[Red Apple] 'Take a break~' _ BTC/USD _ 18.07.19

업데이트됨

I mentioned 'Wedge pattern' yesterday and bitcoin keep retesting trend line. Then, Let's start the analysis for today's BTC/USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'4. Strategy'
'5. Summary'
and click '+Thumb up, +Follow' :-)

1. Briefing
# Shooting Star Candle
# Move sideways
# Resistance of Neck-Line on Bitflyer market(refer to yesterday briefing)

2. Day

1) Trend
a. Bitcoin is going down slightly under trendline(blue line) on Log chart (->focus on today's closing price)
b. possibility 2nd HL can be formed based on DOW theory

2) Candle
Shooting Star -> means there's possibility going down

3) EMA
a. resistance of 100EMA(orange)_about $7431.8
b. possibility 20EMA(red) cross over 50EMA(purple) soon

3. 4H

1) Trend
Same as Day trend

2) EMA
a. As I mentioned yesterday, the distance between EMA line and candle was too far and now it is becoming closer

3) Pattern
a.

Double top pattern and Flag pattern. Two patterns are continuation and reversal pattern. Therefore, check carefully.
b.

The target for Inverse Head and Shoulders is just there.

4) Indicators

a. There is Hidden Bullish Divergence from RSI, Stochastics in 1H frame -> pay attention to 1H frame -> short term
b. Lower band of Bollinger is touched so there's possibility to go up to base line

c. This is showing quite clear visible for accumulated volume. As you can see, there is very low volume in Red box. If it is going down to the range, it can be falling rapidly.

5) Elliott Waves

a. Same as previous

6) Fibonacci

As I mention previous briefing, Fib.0.382 ~ 0.5(red box) range has huge accumulated volume and as expected candle couldn't penetrate this area.

4. Strategy
1) Bullish View :
a. Same as the previous briefing, it still can be moved sideways. Therefore, focus on the pattern in low frame and take profits in short period.
b. focus on penetrating 100EMA in day chart upward and support
c. focus on breaking Neck-Line on Bitflyer market(refer to previous briefing)

2) Bearish View :
a. Candle and trend line in Linear Chart has a little distance to spare but in Log chart those are almost stuck together. So, it's a bit confuse which should be considered. Therefore, keep checking change when one of them is took apart.

5. Summary
As I mentioned previous briefing, it's keep retesting trend-line. if it keep hitting it, it can be broken. if already buy, be careful when going down under $7200 due to low accumulated volume. Or, if you still look after the chance, should buy after making sure whether penetrate 100EMA or Neck-line in BITFLYER market.

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노트

There's nothing special.
broke upper flag for a moment but it need to be closed over upper flag.

노트

https://www.tradingview.com/x/m1BFVySd/As I mentioned, it still moves sideways.
At the moment, the price is lying over 100EMA. hope it is closed over 100EMA and flag pattern.
Today's briefing is till here. Thanks~

If this briefing is being of help to you, click "+Agree and + Follow" me~.

노트

As i mentioned, it keeps moving sideways.
At the moment, the price is lying over 100EMA. it should be closed over 100EMA and flag pattern.
Today's briefing is till here.
Thanks~
If this briefing has being of help to you, click "+Agree and +Follow" me.