[Red Apple] "Bitcoin,, again?? "_ BTC/USD _ 18.08.03

BTC price is being dropped continuously. if we check it on linear chart, it is still over up-trend line.
Then, Let's start the analysis for BTC/USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'4. Summary and Strategy'
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1. Briefing
# breakout down-ward the box
# breakout up-trend line on log chart
# still stay over up-trend line on linear chart

2. Daily Chart

1) Trend
Breakout up-trend line

2) Candle
Three Black Crows

3) EMA
a. candle is under 50EMA
b. there's 'Dead Cross' between 20EMA(red) and 50EMA(purple) soon.

4)Sum.
There are 'Sell signals' _ candle is under 20EMA, 50EMA and 'Dead Cross'. but 20EMA may just come down to retest 50EMA.

3. 4H Chart(linear chart)

1) Trend
Still stay over up-trend line

1) EMA
a. 'Dead Cross' between 20EMA(red) and 100EMA(orange) soon

2) Pattern

a. candle penetrate the box down-ward
b. moving to PRZ of Shark (but if it takes time more, reliability of the pattern is low.)

3) Elliott Wave

4) Fibonacci

penetrate 0.382 and going to 0.5 but 0.5 seems to weak as support line

5) Sum.
0.382 and up-trend line on log chart was broken. hope up-trend line on linear chart can be supported.

4. Strategy and Summary

As you see above chart, if it goes down under $7250, it can go directly to $6800. For your reference, $7250 level is the same level as up-trend line on linear chart.

a. About previous briefing : if you bought BTC from prz of Gartley and uptrend line, keep your Stop-loss.

b. About this briefing : same as previous briefing. just watch. At the moment, should be kept $7250.

Trade safely and make your standards

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Comment:

Supported by 50EMA on daily chart

Supported by Base line of Ichimoku Cloud on daily chart

But there's Dead Cross between 20EMA and 100EMA.

Let see more.

Comment:

As you see, it's being formed descending Wedge pattern. but if grey box is broken down-ward, it directly can go to next grey box.

Comment:

dramatically dropped down and then moving sideways. we do not know whether it is going up or down. just we do trade with our standards.
i recommend you'd better trade when the pattern('Wedge') was broken.
This is the end of this briefing.

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