After Yesterday's mega pump in BTC, 240M 100EMA proved to be a strong resistance, followed by exhaustion in the momentum. Considering the solid buyers that pierced through the resistance yesterday, we believe a 50% retrace (From 18th July low to high) would coincide with an important horizontal support. This calls for accumulation in the specified zone with targets set between $11,750 - $12,150.
Trade active:
BTC has approached the specified support zone. We recommend accumulating here. However, 24th July 2019 day close is important for the sessions to come.
Trade active