Good day, friends!!! The market is getting hot.
Bitmex – XBTUSD
On Thursday, 2 August, trading in bitcoins closed with slight decline. The bullish rebound failed. 1 August buyers holding the line in district 7450. Drove sellers to $7717. On Thursday they lost all points earned. On Friday merged (all purchased from 7450 sold).
At the time of writing, bitcoin is trading around $7355 — 13% below the high of $8487, recorded July 25 at the Bitfinex team.
Today, I again produced the daily chart to show You the critical levels below which fall not worth it. The fact that the market turned around 1 day before the calculation point is good. Not happy with the fact that the phase of the decline should last until 23 August, and fall quickly. The price returned to the trend line from 11633, which was breached on July 23. If the daily candle closes below 7230, is fixed a false breakout TR2. Then it will have to pass through 8487, and for sellers will open the way to 6800.
According to latest calculations, taking into account the latest quotations bear phase may be delayed until August 27. And bitcoin is already 7369, falling 13% to 3 August. If the sellers will carry the 6800, it will fly to the 5745, and then to 5325.
Now the line TR2 and the lower border of the consolidation 7210 – 7718 buyers have support, but once again repeat, buyers don’t want in a falling market to enter via a market order. Protection is only with limit orders. This is very troubling, because while fleeing from the market can go below 5000
avladfx with tradingview