Bitcoin continues to hover below the 6700 resistance. Things are still positive on a daily timeframe. We are working within the upper wick of the July 4th candle. Some range is expected as the bulls attempt to break through. We will be on the lookout for any bearish candles and adapt our scenario if necessary. Right now we hold to our targets in anticipation of BTC breaking upwards towards 7000.
We have already taken partial profits at 6689 and will look to preserve our capital if the price gives indication of falling back to 5900.
We have already taken partial profits at 6689 and will look to preserve our capital if the price gives indication of falling back to 5900.
Comment:
BTC has broken upwards and is currently hovering at the edge of the 6700 resistance zone. This is a last chance for it to push through and complete it's retracement to 8.5k. Adjust your next target from 7042 to 7364. If you are looking to reinforce your position or are not currently in the market - wait for an hourly candle CLOSING over 6840.
BTC has broken upwards and is currently hovering at the edge of the 6700 resistance zone. This is a last chance for it to push through and complete it's retracement to 8.5k. Adjust your next target from 7042 to 7364. If you are looking to reinforce your position or are not currently in the market - wait for an hourly candle CLOSING over 6840.
Price squeeze forming on BTC. A price squeeze occurs when the price momentum indicator oscillates in a tighter and tighter range. A breakout usually occurs in the last quarter of the triangle.
Expect a breakout either within the next 8 hours!