BTC:USD DAILY UPDATE (day 141)

2018年7月18日

Yesterday’s analysis: Longed breakout at $6,851 and closed this morning
Patterns: triangle
Horizontal support and resistance: R: $7,775 Weak S: $7,350 Strong S: $6,800
BTCUSDSHORTS: Peaked through bull trend that started on 3/12/18. Quickly pulled back up.
Funding Rates: longs will pay 0.0193%
12 & 26 EMA’s (calculate % difference): 12: +11.95% 26: +13.48% Recent bullish cross on the daily.
MA crossovers (50 & 128): Bullish 1h, 2h, 3h and 4h
FIB’s: 0.382 - $8,476 0.236 - $5,817
Candlestick analysis: 4h hanging man and shooting star
Ichimoku Cloud: Cloud is part of resistance on daily. C Clamp has resolved itself on the 3d. Tenkan at $8,705 on the weekly
TD Sequential: Green 3 on the daily. 12 hour just hit a 9. Green 2 above a green 1 on the 3d. Price flip following red 9 on the weely.
Visible Range: Resistance stacked from here to $8,500.
50 & 128 MA’s (calculate % difference): 50: +11.25% 128: Currently being tested for resistance
BTC Price Spreadsheet:
Bollinger Bands: Completely outside top daily band. MA on weekly part of resistance cluster.
Trendline: Triangle
Daily Trend: bullish since 7/14
Fractals: at $7,730 and $6,074
On Balance Volume: Has come up w price
Buy/Sell Sentiment on Trading View: Stoch: 88.7 RSI: 67.8 about three fourths of the indicators are showing buy (counter trade indicator)

Conclusion: Fully exited yesterday’s long and entered a short due to confluence of resistance from: triangle, 128 day MA, established horizontal resistance, daily cloud, bollinger band, 12h perfected TD Sequential sell setup.

Stop loss: $7,801
Target: $6,200
Position Size: Max