BTC update 7th July

BTC now trading around 6540. If we look at the first image below you will see 2 important moving averages. The 10 EMA and the 20 EMA. As we told you guys yesterday, we need to stay above this 20 EMA to have a chance of a rise in price. On this same image you will see that the 10 EMA works as a floating support (price goes there but doesn't break it). As long as this "dance" stays above this 2 lines we are good, if we break it it will be back to 6400 (first support). If we fall below this 6400 support we may see 6000 again.
If we look at the bullish side we see a inverse head and shoulders formation (second image). After a inverse head and shoulders pattern we usually see a rise of price, if we combine this with the EMA's we could see a jump soon. We still advise you to set a stop loss around 6500 to 6450. If you are a risky trader you can wait and see how the 6400 support plays out.




DISCLAIMER :

We are not professional traders nor financial advisers. Please invest/trade at your own due diligence! You can't hold us responsible for losing money on trading signals we give you. You and you only take responsibility if you buy crypto and lost on these trades. So do your own research before buying. Our trading  signals are purely informational.

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