Bitcoin Analysis Update: Current Conditions July 23, 2018

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is a quick analysis of current conditions. The 4 hour Doji we are looking at closes in about 30 minutes of this writing.

Tom Demark Sequential (T.D. Sequential)
Count: 9
Notes: Imperfect close on the 8.

Bollinger Bands
Position: Capped
Squeeze: None

Guppy Multiple Moving Average (GMMA)
Trend Strength: Bullish, price position in relation to Moving Averages indicates Bullish . However it is overbought on multiple time frames.
Overbought/Oversold: Overbought

Chaikin Money Flow (C.M.F.)
Divergence: Bearish
Trend: Bullish but declining on the price action move up.

On Balance Volume (O.B.V.)
Divergence: Bearish

Stochastic ( Stoch )
Divergence: Too long to technically be a divergence. Capped 6% lower than prior high reversal.

Relative Strength Index (R.S.I.)
Divergence: Too long to technically be a divergence. Capped 20% lower than prior high reversal.


There are several Bearish divergences on some of the higher time frames, however we are seeing some signs of a bottom transpire on the daily. We are not completely there yet though.

Looking for a retrace (Below) to the Tenkan-sen (Conversion Line in orange) and then a drop down to $7,276 shown in yellow below. As this happens I will be evaluating the divergences I see on higher time frames to consider if we will drop further to the Kijun-sen (Base Line in pink) or if they will fix themselves.

Thank you for reading and please support by clicking like on this analysis. Like, follow, share and interact to help me stay motivated to keep these trending. Thank You!
Comment: Also I am watching April 24th and this current action very closely.

Comment: I am getting hate mail over my analysis yesterday. If you are wrecked (as people claim) over a $600 (at worse) move opposite of my publishing time then you are using the wrong risk management & portfolio management.

I provide analysis and I do not tell people to trade it. I provide MY analysis & what you do with it is up to you.

At the time I did not provide a entry/stop because it was an analysis not a trade idea.

If anything I prefer people read my analysis to learn so they can make their own analysis instead of using mine & other traders to trade upon.
Comment: To everyone who commented on something positive here, thank you. :)
All posts are for educational purposes and are simply my views of markets conditions. At no point should you act or trade upon my posts or

Please do your own research and use my content to educate yourself.
Nick,your analysis is very good and you are absolutely right that its not a trade idea. Thanks for the good work !!!! Cheers
+1 Reply
should wait for more confirmation in my opinion instead of a naked short.
I agree with your thesis, however counter trend trade require a lot of reasons in my opinion to enter the trade.
Also your distance from measuring divergence is too far apart for the time frame us.
Just some feedback however learnt quite a bit from this setup! Kudos!
Short term idea:
+3 Reply
Short? WOW, every indicator said buy from what I could tell on the 16th July.
Welcome to TV. People hear what they want to hear. Let’s get an updated analysis.
See this is exactly why I don't make public analysis.
+2 Reply
Keep doing what your doing Nick, its much appreciated. Ignore the simpleminded.
+1 Reply
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