TradingSig
Long

BTC/USD, Daily Chart Analysis 7/7

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
mplications and Outlook
1. The essential coins have already been trading in quite thin ranges within the last five days, having extremely low trading volumes as well as volatility across the coin segment. The entire value of the market industry is caught about $270 billion as the market segment neglected to maintain bullish energy in spite of the rises higher during the past week. While many of the leading coins tend to be trading plainly higher than the June low levels, considering the doubtful long-term view, bulls cannot benefit from the summer season lull.

Just as the way it is with regular financial markets, the American holiday forth of July week kick-started the real summer season in crypto-land as well, but because liquidity much less than usual, should bearish or bullish push show up; things could get wild fairly quickly.

2. The coin is now trading just under the $6765 Mean Resistance level migrating from Mean Support of $5850 (Step 1) that was tested on June 28.

3. Although grand-daddy coin is drifting under the previously established Mean Resistance $6765, the token still failed to show meaningful intermediate to short-term bearish momentum, by failing to drift towards Mean Support level of $5850 (Step 2).

4. The violation of Mean Resistance $6765 will undoubtedly bring serious of the intermediate to short-term bullish implications, having upside targets to Key Resistance of $7170.

5. Current Coin Strategy Bias: Bullish 60 / Bearish 40

Comments

why would anyone be bullish in something with no volume or interest, it's only the die hards now, the industry ran everyone else off....don't even bother charting alts, they just do whatever btc does, its silly
Reply
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