BTC Technical Analysis 1/10/2018


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Bitcoin Trading Journal 22/7/2018

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Volume: 3,726,610,000 Dominance: 45.2% Checking back on BTC today. The past week i've been following the US stock markets more clearly, looking for opportunities. But today, i'm back with bitcoin to see how things are developing. After the initial bounce from the 5785 level, we have made a higher low at 6079.9 and a following higher high at 7690 region. This confirms the short term change in the trend. The next resistance level that we will need to get through will be the 7800 region which then provides a big window up to potentially 8500. For the past days, I've been waiting for a consolidation and potentially the formation of a higher low possibly at the 6800-6900 region after 5 big green days and only a small red day between another 2 green days. Daily MACD is around the 65 region which in my opinion is pretty high and shows over extension of the move up. There have been tests by the bull to break higher however each time there has been strong rejections shown ...
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Bitcoin Trading Journal 10/07/2018

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Volume: 3,718,130,000  Dominance:43.4% Yesterday's inside bar had a failed break with a big bull break that was shut down immediately followed by increasing bear volume and downside action. This was a good shorting opportunity from a strategy i read recently which combined bearish divergence with a false break. Price reversal: FB+BD Bearish divergence was seen on the 1hr MACD from the previous high of 6839.4 to last high 6820 which was a lower high, unable to overcome the 6850 resistance zone. Price was swiftly shut down and is current finding support on the daily 26 EMA at 6640ish range forming a lower low. Currently the new support level is at 6616 and if we break through, we look to previous lows of 6511 and 6423 on the 4hr. I am still leaning bearish due to the decreasing volume and increasing btc dominance which signals reduced risk taking. looking for opportunities to short near resistance keeping my Stops just above the breakout level to upside. I am also...
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