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The Daily Hodl
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BTC Grinding Up

by CryptoInMinutes
August 4, 2018
in HodlX
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
HodlX Guest Post  Submit Your Post
 

BTC is currently on a slow grind up within the current consolidation zone between $7,500 and $7,250.

We’re currently printing higher lows as we march towards the 0.236 fib level but it would not surprise us to see a bearish retreat and retest of $7,265 level as we could potentially be in a bear flag pattern. 

We would view any break and close below $7,200 as a shorting opportunity to around the $6,860 level.

On the other hand, if we witness some convincing buy volume at the $7,200 mark, we would consider going long with targets as high as $7,800 but more conservatively, would look at possibly exiting at $7740 or even $7,520 depending on the bullish momentum.

 
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