Yesterday's price action filled the gap at 9235 USD. In the immediate short term, we have a gap at 9125, 9240, 9400 USD. WE have to wait and see which one gets filled when the CME market opens.
https://www.tradingview.com/x/UlS1dcNU/
This is my entry for the 100DAYSOFTA challenge, Tuesday 7th July 2020.
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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
We have huge run yesterday and guess what, we got stopped by the 4hrs resistance again. This price action looks like its going to form a double top around the resistance level. This is definitely something worth paying attention.
I went short when we hit the resistance, but I was stopped out because I used a tight stop loss and the price pushed a little higher. This means I have to see if we can rally up again, before taking another position.
The resistance is rejecting the price and Willy is trying to coil back from the overbought region.
https://www.tradingview.com/x/S8ARYmQg/
1h
The ST is now long on the TF. However, we have the Willy getting seriously doiling to the oversold. This may mean we have sellers reinforcing themselves. The bear divergence on Willy might also give more push to the lower price. This means the push higher yesterday might be fake out and we might not be properly coiled up for the bullish price we are all waiting for.
On this TF, it is better to look for a long position when Willy gets to oversold region.
https://www.tradingview.com/x/ZZKpv64D/
30 mins
on this TF, we have ST as long, and Willy getting oversold. This is a sign that we might get a reversal or bounce. However, the reversal might be shortlived if we have more bears. As it is seen on the 4 hr chart, the bears are still having a day.
https://www.tradingview.com/x/p6gLOskn/
Extras
15mins and 5 mins charts respectively.
https://www.tradingview.com/x/GzlQ4G16/
https://www.tradingview.com/x/e5fa8op6/
Summary:
4hrs ST is short
1hr ST is long
30 mins ST is long
My Position
This is my thought and idea
https://www.tradingview.com/x/KgPvCzGr/
The R:R is around 2.06.
Please note: This is not financial advice. This is rather a way I am seeing the market.
so detailed analysis, I think that BTC has been too long in a same position, A strong move up or down may come soon.
This is what I am expecting too. Hopefully, we don't get to be on the wrong side