BTCUSD Down Move

Jul 13, 2018

Bitcoin looking to retest lows against the dollar. Price spiked into the area of the last 4H up close (Order Block) before the previous drop with a weak move, thus indicating order flow currently working in the bear direction with supply outstripping demand at the 6350 level. Price action suggests a retracement towards the 5960 level, which would see inneficiency (no chance for sellers at 'inefficeint levels') of the June 29th candle being fully traced back. Anything below 5800 can be seen as a great demand level but liquidity raids are possible deep into the 5700's if a large bull move (min +10%) is to be triggered once more.

Jul 15, 2018

Trade closed manually

Trade premise no longer valid so stop at least breakeven :)

Jul 16, 2018

Trade closed manually

Good call for stop since price hurtled higher past this level. Active trade management key :)