BTC 6TH AUG
We hit the 50% fib right on target.
The trend is your friend until it is not so i am, opening a small short here.
https://www.tradingview.com/x/EzBjSoCB
Right we hit that nicely, and my short is still open, but there is a lot of support on the 6hr here, if we can hold this we could go higher up past $7200 or even higher.
https://www.tradingview.com/x/ZTnlKMQN
There is a massive battle for this area whatever way it goes we have a good move either up or down, i am leaning bearish because the trend is your friend , but have a tight stop and ready to go long if it turns.
https://www.tradingview.com/x/wciT8RUJ
This hanging man on the hourly is making me think we go back down first before maybe a move up, i am still sort of bullish till we get below and close below$6700-$6600
I have been talking about that retest line.
https://www.tradingview.com/x/YREOrXQr
Below this breakout zone is bearish, if we can stay above it would could make a higher high or a double top.
Each down move in this bear has had a double top.
I don't think we have had ours here yet if we are to continue down to make a lower low.
https://www.tradingview.com/x/qUARo2MG
There is a lot of buying support in this area.
But can it keep up?
repeated testing dries up the supply of buyers with every touch, so it really depends on who tires first here, the bulls or the bears.
https://www.tradingview.com/x/ECJgryCI
This bearish cross of the 10 and the 20 EMA on the daily is not good at all.
Also a bearish cross of the 10 and the 50 on the 12HR .
More bearish signals.
https://www.tradingview.com/x/3v34Xqhn
Possible bounce from here, don't know how high as we can bounce from anywhere here to go and retest the previous highs.
https://www.tradingview.com/x/LRxu9nZi
Also a double bottom possibly forming on the 4hr, which closes in 1 hr
