Bitcoin showing some Bullish price action here. Nice double bottom formed @9,075.66. I had originally thought that this rectangle would play out to the downside. But the with the price action over the past few days with BTC trending back above the 20 & 50 EMA, as well as starting to breakout above this rectangle. Looking to test descending resistance coming from...
Short term analysis going into Mid August. Cross between the 20 Day and 200 Day SMA should happen shortly, as well as 50 Day and 200 Day crossing shortly thereafter. Looking to fill the gap @$171.80 then possible reversal. We also have $170 Flat as resistance along with the .618 Fibonacci level at 169.99, coming from our recent swing high of $193.10 and swing low...
Looking for a bounce either tomorrow or midway through the week. Will either intra-day trade calls to the upside or puts to the downside over the next 2-3 days... Stay Tuned and Trade Smart!
