We have a short position as first target at $11,067 and second target at $10,320 with stops above $12,376
If we break the 38.2% level for the longer term fibonacci retracement at $12,023, we might see a rally towards $13,200.
If we break $12,376 level, we could potentially test $13,845.
Potential reversal zone for buyers is sitting between $10,320 and $9466.
Potential reversal zone for sellers is sitting between $13,200 and %13,845
The Longer Time frames clearly show the levels we need to be considering a long position. We really need to see this resistance level at 12,023 and 12,376 levels to be broken to call the next volatile move higher. If the bull is not back, we will probably drop down violently. My hunch is that we will go side ways or down for the weekdays and make the move higher for the next week as the Fibonacci extension levels on the dates are pointing a move on the 16th of August. Keep in mind, Bitcoin loves to rally towards the end of the year. At the same time, with all the trade wars going on and Gold's recent price increase, i can really see a crazy move toward the end of the year. But, i think it would be wise for everyone reading this to just trade the buy and sell signals on our indicators. Thanks for the support Megalodons. I appreciate you all! Let me know what you think about Bitcoin :) Our most powerful tool call the bottom on Bitcoin here. tradingview.com/script/l5FlgipF-Megalodon/ Here is also its backtesting result. ~Bo Megalodon Trading Enlightening the modern investors
BTW, your video is great too; keep it up =D