BTC Analytics Jul 11
Hey there.
Nothing global has happened since our last review. BTC continues sideways movement within the channel. Market capitalization is 1.19 trillion, dominance index is 51.55. The fear and greed index is 57 (Still greed).
On the evening of July 10, price rose sharply into the OB zone, from which the expected decline followed. In our closed channel we described such a scenario and opened a short from
30900.
At the moment we expect correction to the zone 28800 - 28500, where we will observe the price behavior, as it is necessary to grab all the liquidity accumulated below. Two variants are possible:
1. a rebound from this range and movement to the upper boundary of the channel (31300).
2. Continued decline to the level of 27500.
The scenario of global growth to the levels of 32000 - 33000 is possible only after the exit from the channel, namely the breakdown of 31300.
At the moment of writing this article the price is hovering around 30400, and oscillators are in the middle (zero) zone, so it is not recommended to take a position from the current levels. It is necessary to wait until important levels are reached. Sometimes inaction is the most logical action.
Good luck and patience.
Always in touch,
Relictum Analytics
Nothing global has happened since our last review. BTC continues sideways movement within the channel. Market capitalization is 1.19 trillion, dominance index is 51.55. The fear and greed index is 57 (Still greed).
On the evening of July 10, price rose sharply into the OB zone, from which the expected decline followed. In our closed channel we described such a scenario and opened a short from
30900.
At the moment we expect correction to the zone 28800 - 28500, where we will observe the price behavior, as it is necessary to grab all the liquidity accumulated below. Two variants are possible:
1. a rebound from this range and movement to the upper boundary of the channel (31300).
2. Continued decline to the level of 27500.
The scenario of global growth to the levels of 32000 - 33000 is possible only after the exit from the channel, namely the breakdown of 31300.
At the moment of writing this article the price is hovering around 30400, and oscillators are in the middle (zero) zone, so it is not recommended to take a position from the current levels. It is necessary to wait until important levels are reached. Sometimes inaction is the most logical action.
Good luck and patience.
Always in touch,
Relictum Analytics
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