New Resistance Rejection on 4H. Still short.

Jul 2, 2018

After a 6,518.10 Top during the weekend on a Three Outside Up bullish candle, BTC is again around the 50% Fibonacci 6,285.30 mark on 4H essentially trading within a Triangle pattern (RSI = 52.892, CCI = 21.1850, Highs/Lows = 0.0000). With 1D comfortably remaining under a Lower High sequence, we utilize such spikes as short opportunities on a higher price. Intra day scalpers can target the 38.20% level = 6,156.60, which is also the SMA200 on 1H (Highs/Lows @ -29.8337, MACD = -12.900). Our TP remains at 5,617.4 (1W EMA100).