New Lower High. Still short.

16 Jul 2018

BTC made a 6,080.80 Low On Thursday, which has so far provided a 3 day bullish streak that peaked on Sunday at 6,388.90. This succession is on a ~10K volume average as opposed to the ~22K of the downfall since 6,826.10. This could be an indication of an unsustainable bullish run, also technically interpreted as a Lower High on 1D (RSI = 45.780, Highs/Lows = -2.9356, B/BP = -23.7781, MACD = 122.00). Sellers need to break 6,285.8 today (1D SMA5) as it is the last current level of support on 1D, while buyers the 6,820 - 6,897 Resistance zone. Due to these restrictions, 4H is on a neutral state (RSI = 53.294). The approach remains modeled after the 1W bearish channel (Highs/Lows = -750.0756), therefore keeping a Bitcoin short average on two positions aiming at 5,617.40 (1W EMA100).