BTC weekly update 29.07.2018

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We had very nice week for BTC supporters. BTC made nice gains and holds the price very nice. As well as most traders I expect one more leg up and I believe we follow pattern we followed in April-June. It means we make another move up likely double top and then stronger pullback and we make lower low again or higher low and then I can definetly say the bear market is over. Fot this moment there there is still no confirmation we make higher high above 10k. I think we don't make in lasting rally.

Indicators stay as follows:

EMA - We hold above 200 daily EMA for 6 days and bounced from it. Bullish .
20 crossing 100 on daily. Golden cross. Bullish .
Above on 20 weekly since 10 weeks. Bullish

MA - 50 weekly MA not broken. Bearish .
As long as we dont break 50 weekly The Death Cross 20-50 is active. Bearish .
Holding between 100 and 200 daily. Neutral.

RSI - weekly is neutral. Daily holds above 60. Bullish biased. Hidden bullish divergence 4h. Trend continuation.

STOCH / RSI - Daily cooling off but a lot of space to move downward what shows consolidation. Neutral. Weekly hasn't broken last high at 55. Neutral but a lot of space to move upward. Bullish biased.

BBands - Weekly bounce from lower band band 20 MA broken a lot of space to go to over 9k. Bullish . Daily bounce from upper band a lot of space to go downward. Upward space is developing with maximum momentum around 8752 currently. Neutral.

Volume Oscillator - Consolidation and cooling off. Probably some significant movement incoming.

BTC Long/Short - Neutral.

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