[Red Apple] "Corrective phase! "_ BTC/USD _ 18.07.27

BTC is in Corretive Phase. After break short-term support line that i mentioned in previous briefing, it moves sideways for a while and then went downward.
Let's start the analysis for BTC/USD chart.

If you are busy, you can just read below briefly
'1. Briefing '
'4. Summary and Strategy'
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1. Briefing
# Corrective phase

2. Daily Chart

1) Trend
Staying under down trend line

2) Candle
a. i mentioned Bearish Harami in previous briefing and now appeared confirmation candle for Bearish
b. Bullish Candle Scenario :
i) today's candle go down to about $7700 and next candle will engulf 3 candles -> Three Methods pattern
ii) Today's candle closed over $8180 -> Bullish Engulfing Candle
c. Bearish Candle Scenario :
Three Black Crows

3) EMA
20EMA(red) is rushing to 100EMA(orange)

3. 4H Chart

1) Trend
Staying under down trend line

2) EMA
Candle is staying under 20EMA -> signal for Sell

3) Pattern
a.

After going down under short term support line, keep going down, down,,,
b.

Gartley or Bat

4) Indicators
Most indicaotrs will show Oversell, soon.

5) Elliott Waves

corrective wave is going from small blue box and now price is in large blue box (range for wave 4)

6) Fibonacci

Supported at 0.5

4. Strategy and Summary
a. About previous briefing : break through support line downward and now it is staying under down trend line.
b. About this briefing : corrective wave can go to $7700 or even $7400.(it can be changed as time goes by). kept mentioning about corrective wave and now it is being corrected. so, do not worry too much, but rather it is chance to buy.
If you are aggressive trader, check harmonic pattern that i mentioned above and buy from 'prz'.
if you are conservative trader, wait until confirmation that candle is supported by uptred-line or staying over down-trend line. Also, wating for Bullish candle scenario can be good strategy.
No matter what kind of trader you are, be careful when up-trend line is broken.

Trade safely and make your standards

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Also, if found something special, i will comment in real time

Comentário:

forming consolidation region. Let see more candles.

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rectangle , triangle and break out. but breakout volume is quite low. let see upper line of triangle is worked as support line

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Check resistance line. Hope it's not broke.
This briefing is till here. Thanks :)

Comentário:

typing error
resistance line-> support line

Comentário:

One more thing. it can be recognized 'Bearish Flag pattern'. The target for this pattern is 4th Defense Line.