BIG MOVE COMING UP!!

14 Jul 2019

As in our previous analysis we indicated that the red trend line was a crucial line. At this point we are seeing that BTC is respecting that line and the line is acting as support however, we could also see that there is a H&S formation happening. The only problem with the formation is that the right shoulder is higher than the left but the volume is significantly droping as well, which supports the H&S formation. With the fact that we weren't able to make a higher high from the peak, I am getting more confident that we are likely heading down.
As always just thought not an advice.

Precious analysis;

14 Jul 2019

Nota

The question here is: Is 200 EMA going to hold? I believe it is unlikely. We could see a bounce from here. However, there seems to be not enough volume coming in.Also if we look at the daily chart we have a long way to 50 EMA. However, if you want to make an entry here, it could be done. Just set your stop losses before hand.Its a risk-reward issue. =)

15 Jul 2019

Nota

As said in the previous comment, we have reached the 50 EMA on the daily chart . It is a slight possibility to see a bounce from here to the top trend line and back down to the bottom trend line. However i never recommend trying to catch a falling knife. Wait for it to fall and settle ;) If you are willing to take the risk,which will have a nice return, set your stop losses before the trade. Trading is all about risk management.=)