{"id":182835,"date":"2023-07-09T01:30:00","date_gmt":"2023-07-09T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=182835"},"modified":"2023-07-09T06:13:55","modified_gmt":"2023-07-09T13:13:55","slug":"bitcoin-july-2023-double-top","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/bitcoin-july-2023-double-top\/","title":{"rendered":"Bitcoin July 2023 Double Top in Bull Channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Bitcoin Futures<\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.cmegroup.com\/markets\/cryptocurrencies\/bitcoin\/bitcoin.quotes.html\" data-type=\"URL\" data-id=\"https:\/\/www.cmegroup.com\/markets\/cryptocurrencies\/bitcoin\/bitcoin.quotes.html\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin Futures<\/a><\/strong> July 2023 Double Top in Bull Channel. During the week, the value of a Bitcoin decreased 0.86%. A couple of weeks ago, a bull signal was triggered, but the follow through was not good since it was a doji bar closing below the bull signal close. This week was a bear doji that created a micro double top pattern within a major double top. This is not what bulls were hoping for, still, bears did not close the gap between the price and the bull&#8217;s flag breakout point around $27000. Until this gap is not closed, traders should expect buyers below prior bars and sideways to up trading. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt.png\" alt=\"July 2023 Double Top in Bull Channel. Weekly chart of Bitcoin Futures on July 7th 2023\" class=\"wp-image-182958\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Analysis<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week&#8217;s candlestick is a bear doji bar. This bar forms a micro double top and a major double top, contained within a bull channel.<\/li>\n\n\n\n<li>A couple of weeks ago, there was a bull breakout of a bull flag and a bull signal. The price was coming from <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-gap-closed\/\" data-type=\"URL\" data-id=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-gap-closed\/\">closing the<\/a><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-gap-closed\/\" data-type=\"URL\" data-id=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-gap-closed\/\" target=\"_blank\" rel=\"noreferrer noopener\"> gap of a head and shoulders bottom (HSB) breakout point<\/a>, a negative gap since there was not any close below the breakout point. That was good for the bulls. <\/li>\n\n\n\n<li>However, the bull signal stalled at the resistance of a 50% retracement of 2022&#8217;s bear trend around $31650 (not shown in the chart). <\/li>\n\n\n\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>Want to reach a Measured Move (MM) based upon the size of the HSB. <\/li>\n\n\n\n<li>Ultimately, they want the bull channel to continue up towards the 2022 high.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>Want a double top at the 50% retracement.<\/li>\n\n\n\n<li>They need closes below the bull flag&#8217;s breakout point, the May 30th high. <\/li>\n\n\n\n<li>Moreover, they want a full reversal of the bull signal triggered a couple of weeks ago. If that happens, the next stop might be the higher low. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Swing Bulls:\n<ul class=\"wp-block-list\">\n<li>This week&#8217;s candlestick is not a good bull signal bar. <\/li>\n\n\n\n<li>Bulls that bought the bull signal a couple of weeks ago might exit their trade below a bear bar.<\/li>\n\n\n\n<li>Most should trust their stop at the higher low and see what happens when bearish gaps are closed.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Swing Bears:\n<ul class=\"wp-block-list\">\n<li>This week&#8217;s candlestick might be an ok signal bar; however, the context is not good for the bears, since the market cycle favor bulls: higher lows and higher highs. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema.png\" alt=\"\" class=\"wp-image-182949\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-consolidation-above-20-ema-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Analysis<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>During the week, the price traded mostly sideways. It reached a new 2023 high and then reversed down.<\/li>\n\n\n\n<li>The price was coming from breaking up a bull channel. The bull breakout was fair and strong; hence, if there is a reversal down, it will probably be bought. More likely, another leg up will emerge soon. <\/li>\n\n\n\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>After a bull breakout, a bull channel is expected. This is what bulls want, a spike and channel bull trend. <\/li>\n\n\n\n<li>They do not want closes below the breakout point.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears: \n<ul class=\"wp-block-list\">\n<li>They want bear closes below the breakout point. <\/li>\n\n\n\n<li>They hope that the price is within a trading range market cycle instead than a within bull channel. <\/li>\n\n\n\n<li>Ultimately, they want a full reversal of the bull breakout. <\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The price was sideways the past two weeks (10 days). The bulls still have the inertia in their favor.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Swing Bulls:\n<ul class=\"wp-block-list\">\n<li>Some might buy at the 20 Exponential Moving Average. Others might buy a 50% retracement.<\/li>\n\n\n\n<li>The stop loss is the same for both trades: below the major higher low. <\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Swing Bears:\n<ul class=\"wp-block-list\">\n<li>They need a bear breakout, or a lower high and low. <\/li>\n\n\n\n<li>Want to see that bears that sell above the 20 Exponential Moving Average are winning money. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Bitcoin Futures Bitcoin Futures July 2023 Double Top in Bull Channel. During the week, the value of a Bitcoin decreased 0.86%. A couple of weeks ago, a bull signal was triggered, but the follow through was not good since it was a doji bar closing below the bull signal close. This week was [&hellip;]<\/p>\n","protected":false},"author":7271,"featured_media":182958,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1904,136],"tags":[223,324],"class_list":{"0":"post-182835","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-analysis","9":"tag-bitcoin","10":"tag-cryptocurrency","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bear-doji-mdt-dt.png","author_info":{"display_name":"Josep","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/cnjoseluis10gmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/182835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/7271"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=182835"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/182835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/182958"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=182835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=182835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=182835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}