A look at the monthly in anticipation of the July close
Updated
This is how I am seeing and trading things. Not financial advice, I just use trading view as a 'captains log' for post hoc analysis.
The July monthly close in this Sunday. Things are looking spicy as we could see a clean back test of some fairly signifigant historical levels (grey battle zone). If it does rally and close above this zone, it would also print a bullish doji. A break to the downside of the grey zone would start telling me a bearish double top story. Nevertheless, I often see signifigant movement on the monthly and weekly closes so that the charts look nice. Given that my overall outlook on the market and BTC is to the upside on the multi-month timescale, I my expectation is that Sunday's close is above the battle zone.
The July monthly close in this Sunday. Things are looking spicy as we could see a clean back test of some fairly signifigant historical levels (grey battle zone). If it does rally and close above this zone, it would also print a bullish doji. A break to the downside of the grey zone would start telling me a bearish double top story. Nevertheless, I often see signifigant movement on the monthly and weekly closes so that the charts look nice. Given that my overall outlook on the market and BTC is to the upside on the multi-month timescale, I my expectation is that Sunday's close is above the battle zone.
Note
beautifulNote
revisiting this one because the monthly is so beautiful still. The level we were watching last year broke, and price action went down to the next clean level on the monthly. At the same time it is a perfect 3 touch on a multi-year bullish wedge. Glorious. Took longs yesterday and today to speculate on the confluence of multi-year levels coming in for support.
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