I think we are seeing an archer's move. He is from the bull's realm, and to throw is arrow up high he first needs to go the opposite's way . So going a bit down first. So this archer tends his bow, that's the reason of this coming bearish move. It won't be a deep falling, it's just the bullish gang that is preparing its powerfull up move. So to go up, it needs to go a bit down (the bow way).
The down move should be fully validated in 2 ticks (check the confirmation2 of my graph). so a real down move is to be confirmed around 19:00 gmt+0 on July 10th
Check also the horizontal lines I've drawn, they are important in this down move.
Don't take my words for granted, trade, analyze, trade, ....
Bullish move is taking place here. But is it really powerfull enough? here's my analysis
on ( A ) : price starts to reverse and to go up. But I think there is a resistance at 6540, that's a kind of ceil here. I've drawn a down arrow also on right. That arrow depends only on the future the move occurring on part ( C ) of my graph. I explain that below.
on ( B ) : Pink line didn't breach up, and is kept on its floor. The move now is to breach down, that's a bullish step.
on ( C ) : Today July 15th at 00:00 GMT we have a first BULLISH confirmation occuring (the green line gets thicker). But the strength of the UP move of bitcoin will depends on how that green line will cross the orange line (near it). If we see that the green line is kind of landing on the orange line before crossing (not crossing firmly), that will mean it's a slow BULL moment, and the price should go down again. If green line crosses firmly then I think the BULLs will continue to go up and will breach the resistance line at 6540.
on ( D ) : we clearly see an UP move that will surface into bulls area (above 0). The last trigger to wait to confirm is when the gray line will immerge above 0. it's not the case yet. But it's a strong assumption there's a bullish moment.
My final conclusion, I think price will fall below 5780 one day or another. We haven't hit the deeps of bearish waters yet.
PS: if you are interested in my analysis, please hit the "like" button on my post. You can drop me message also. :)
Atemak
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@Atemak, oops, I've out synched the ABCD step on the graph, sorry. on graph the A is B, graph B is C in text, and graph C is D in text. A in text is about the candlestick paty.
Bearish strength is decreasing right now, but it doesn't mean it is the end of a fall.
On the graph:
in [A]: we are seeing a starting range forming. The price is in middle of that range. So it's not the moment to take a BUY or SELL decision. Just wait before trading.
in [B] : We are seeing the pink line couldn't reached its next upper floor, but just touched the ceil of its floor, and starting to decrease.
That where I say a decrease is starting, but it can breach to next floor if the bears are reenforcing again.
in [C] : It is still a bearish moment, because all lines are still diving in bears waters. But those lines are slowly wishing to get some
"fresh bullish air" (going above the level 0)
Atemak
⋅
I think we should go below the 5780 red line I've drawn. But we won't go that deep before a real awakening of the bulls.
Bullish move is taking place here. But is it really powerfull enough? here's my analysis
on ( A ) : price starts to reverse and to go up. But I think there is a resistance at 6540, that's a kind of ceil here. I've drawn a down arrow also on right. That arrow depends only on the future the move occurring on part ( C ) of my graph. I explain that below.
on ( B ) : Pink line didn't breach up, and is kept on its floor. The move now is to breach down, that's a bullish step.
on ( C ) : Today July 15th at 00:00 GMT we have a first BULLISH confirmation occuring (the green line gets thicker). But the strength of the UP move of bitcoin will depends on how that green line will cross the orange line (near it). If we see that the green line is kind of landing on the orange line before crossing (not crossing firmly), that will mean it's a slow BULL moment, and the price should go down again. If green line crosses firmly then I think the BULLs will continue to go up and will breach the resistance line at 6540.
on ( D ) : we clearly see an UP move that will surface into bulls area (above 0). The last trigger to wait to confirm is when the gray line will immerge above 0. it's not the case yet. But it's a strong assumption there's a bullish moment.
My final conclusion, I think price will fall below 5780 one day or another. We haven't hit the deeps of bearish waters yet.
PS: if you are interested in my analysis, please hit the "like" button on my post. You can drop me message also. :)