Daily Report – Bitcoin and Market Update (July 15 2020)
Bollinger Bands are squeezed big time as in the chart attached on middaily sessions. Momentum has been diverging in a slightly hidden bullish mode – Price Action Higher Lows, Momentum Lower Lows. As you know after my recent reports and updates, we’re about to spot a large volatility and massive move on bitcoin. Very high chances it’s going to happen within the matter of next few days. Volatility at its lows since a very long time which is very typical to a strong thrust that is being built. Rules are the same, breakout retest of 10.5k is MTF-HTF long-term buy signal. Breakdown retest is LTF-MTF short signal (beware of bear traps for late shorts). We’re currently trading at completely no interest neutral level of 9200-9300 50% retracement of 8.2-10.5k range. Breakout direction will only come because of news/fundamental reasons due to sudden whale activity.
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