Bitcoin trading journal 27/07/2018
Volume: 4,950,190,000
Dominance: 46.8%
Bitcoin's daily inside bar broke bear and price has declined to 7900s. Anything above the 7221 level however is still a higher low with the uptrend still intact. Green 9 on the daily perfectly called the top of the move and now depending on the size of the drop we can either make a higher low or possibly go into consolidation until bitcoin decides where it wants to go next. Which will happen will depend on the size of the pull back. If the higher low is lost, chances of a higher low become less and that of consolidation becomes much more.
On the 4hr the support levels still remain at the 7600 level, if we break below the next levels of support will be the 7200s.
Bearish divergence that was mentioned earlier is starting to play out.
I'm remaining in USD and waiting for a sign that the higher low is in before going long once again.
Dominance: 46.8%
Bitcoin's daily inside bar broke bear and price has declined to 7900s. Anything above the 7221 level however is still a higher low with the uptrend still intact. Green 9 on the daily perfectly called the top of the move and now depending on the size of the drop we can either make a higher low or possibly go into consolidation until bitcoin decides where it wants to go next. Which will happen will depend on the size of the pull back. If the higher low is lost, chances of a higher low become less and that of consolidation becomes much more.
On the 4hr the support levels still remain at the 7600 level, if we break below the next levels of support will be the 7200s.
Bearish divergence that was mentioned earlier is starting to play out.
I'm remaining in USD and waiting for a sign that the higher low is in before going long once again.
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