[Red Apple] "Rebound level.. "_ BTC/USD _ 18.07.30

Let's start the analysis for BTC/USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'4. rebound level'
'5. Summary and Strategy'
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1. Briefing
# Supported short-term trend line
# Supported 20EMA on Weekly Chart
# there is possibility more drop if it goes under $7664.9

2. Monthly Chart

1) Trend
Bullish

2) Candle
Bullish Engulfing Candle

3) EMA
Supported 20EMA(red)

2. Daily Chart

1) Trend
Bullish

2) Candle
Opening Marubozu

3. 4H Chart

1) EMA
a. Supported 100EMA(orange)
b. There's possibility 20EMA(red) to retest 50EMA(purple)

2) Pattern

If it drops more, can buy from the PRZ of Gartley pattern.

3) Elliott Wave

3 possibilities
a. 5th wave truncated
b. 4th wave is still on going
c. if 3rd wave on chart consider 5th wave and now it is waving ABC correction

4) Fibonacci

Supported at 0.618

4. Rebound level
a. PRZ of gartley
b. uptrend line
if those are broken, bearish market will be open.

5. Summary and Strategy

a. About previous briefing : "breakout upward on triangle pattern by sideways -> look for new pattern -> formed rectangle pattern -> up and down and finally down"+"candles stay under 20EMA on 4H chart" -> it means there's possibility dropping more -> and now keep going down ,, down,,
b. About this briefing : at the moment candle is supported by 100EMA by 4H. if it is staying under 100EMA, it can be dropped more.
For Aggressive trader :
a)you can buy now at this level(about $7700) but set stop loss quite shortly(e.g. if 100EMA breakout, sell)
b)Trade from PRZ of Gartley.
For Conservative trader : buy when it retest uptrend line and confirmed support(about $7400~$7500)

Focus on support 100EMA and there will be dead cross between 20EMA and 50EMA on 4H chart. if there's dead cross, the price additionally will be dropped.

Trade safely and make your standards

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Also, if found something special, i will comment in real time.

Comment:

at the moment, it is staying in PRZ of Gartley. If your are aggressive trader, you can buy.
if the price break below 2 uptrend lines, i think bear market will open again.
(about Bear Trap, will talk later)

Comment:

Check accumulated volume for $7400~$7500

Comment:

It is about to be 'Dead Cross'.

Comment:

1. Dead Cross (20EMA & 50EMA) -> it can be 'Gold Cross' again, depends on next candle.
2. 4H candle looks like Hammer. This is inverse candle and if next candle going up and up, 3 candles can be formed 'Morning Star'.

Comment:

i wrote the date of title ;; this idea is for 1st Aug.

Comment:

At least, the candle should be closed over $7644.1.

Comment:

it was closed under $7644.1 and now, there's a box which is touched up and down just 1 time. So, i recommend that you do not use the box for trade. just use it to understand strength of Sell or Buy in the box.

Comment:

it moves continuously sideways in the box.
hope the candle on daily chart is closed over 20EMA.
This is end of briefing and if you think you got help from my briefing, click +Agree, +Follow.
Thanks.