$BTCUSD $BTC $XBTUSD Analysis 5 August 2018
Monthly:
-Price retested the monthly support around 6388 and it bounced off
-Next area of resistance is 7800
Weekly:
-Price has been making lower highs since the peak but it's printed the first equal low (printed the first higher low on other exchanges)
-Either way, the lows are almost equal. That COULD possibly mean potential reversal signs as the bulls are refusing to let it go any lower. It's also bouncing nicely of the daily support at 5874.
Daily:
-Currently trading above the middle of the trading range - if I was a buyer I'd prefer to buy it on a retrace on the bottom half of the range
-Areas of high liquidity drawn out at 5530 and 8782. At the moment it seems the 8782 area is more attractive to price so I expect price to be pulled here in the first instance even if it's just a stop run.
-In the Interim I'd be bullish until prove otherwise
My strategy is to buy on a retrace into the bottom half of that blue box if we get that low.
-Price retested the monthly support around 6388 and it bounced off
-Next area of resistance is 7800
Weekly:
-Price has been making lower highs since the peak but it's printed the first equal low (printed the first higher low on other exchanges)
-Either way, the lows are almost equal. That COULD possibly mean potential reversal signs as the bulls are refusing to let it go any lower. It's also bouncing nicely of the daily support at 5874.
Daily:
-Currently trading above the middle of the trading range - if I was a buyer I'd prefer to buy it on a retrace on the bottom half of the range
-Areas of high liquidity drawn out at 5530 and 8782. At the moment it seems the 8782 area is more attractive to price so I expect price to be pulled here in the first instance even if it's just a stop run.
-In the Interim I'd be bullish until prove otherwise
My strategy is to buy on a retrace into the bottom half of that blue box if we get that low.
Feragatname
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