Bitcoin/USD Week of July 30, 2017 - August 5, 2017
Bitcoin price ended the month of July on a structure of lower highs, however Bitcoin was determined to find the August high as price gave Bulls the momentum swing trade intraday. Sunday - Monday, Bitcoin sunk after a rejection from a re-test of the July 20, 2017 high @2937 but did not reach as 2929.86 opened the door to a Bear bash. The Bulls retreated to 2631 over the next 24 hours. A huge momentum trade for the Bears! Tuesday - Thursday saw sideways trading as both sides accumulated with little trade being done. Friday morning returned the momentum as the Bulls pushed from the weekly low hoping to leap across the July high @2937. At the time of this writing, the Bears have regained price action as 2870 range rejects, putting in place yet another lower low on the week. With almost 48 hrs remaining in the weekly bar Bears appear to hold resistance for the moment.@cryptoseraph
Bitcoin price ended the month of July on a structure of lower highs, however Bitcoin was determined to find the August high as price gave Bulls the momentum swing trade intraday. Sunday - Monday, Bitcoin sunk after a rejection from a re-test of the July 20, 2017 high @2937 but did not reach as 2929.86 opened the door to a Bear bash. The Bulls retreated to 2631 over the next 24 hours. A huge momentum trade for the Bears! Tuesday - Thursday saw sideways trading as both sides accumulated with little trade being done. Friday morning returned the momentum as the Bulls pushed from the weekly low hoping to leap across the July high @2937. At the time of this writing, the Bears have regained price action as 2870 range rejects, putting in place yet another lower low on the week. With almost 48 hrs remaining in the weekly bar Bears appear to hold resistance for the moment.@cryptoseraph
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Bitcoin/USD to the moon! Bitcoin trades all new highs. All shorts closed.