Hello all!
As we can see is the resistance around 7200 broken. Two times it was hit earlier today and din't broke but the third time it happened. Next resistance will be around 7000, since it's a nice round number. Question is now if it's strong enough.
If it's not, BTCUSD breaks through the 7000 support and will fall further. As can be seen on the chart will the next support be around 6750 (17 july). That's easy money, when you go short.
Lesson: Watch the BTCUSD carefully now, go short when the 7000 support breaks. Do nothing for now when it won't break. New studies are needed with the information that will provide.
As we can see is the resistance around 7200 broken. Two times it was hit earlier today and din't broke but the third time it happened. Next resistance will be around 7000, since it's a nice round number. Question is now if it's strong enough.
If it's not, BTCUSD breaks through the 7000 support and will fall further. As can be seen on the chart will the next support be around 6750 (17 july). That's easy money, when you go short.
Lesson: Watch the BTCUSD carefully now, go short when the 7000 support breaks. Do nothing for now when it won't break. New studies are needed with the information that will provide.
Comment:
Battle is going on between the bulls and bears at the moment. No winner for now. When price falls below the lowest red line we get further in the bearish trend. When price rises above the highest red line a resistance is broken which makes room for further grow.
Sell signal: When price goes below 6925. Next resistance will be around 6750 in this case.
Buy signal: None for now, no trading against the trend.