Bitcoin futures<\/h2>\n\n\n\nThe Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n![\"Bitcoin](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-weekly-bull-trend-testing-50-percent.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- This week’s candlestick is a bear reversal bar with a tiny bull body. It is failing to close above 50 percent retracement.<\/li>\n\n\n\n
- This year, the price was in a bull trend: higher lows and higher highs. <\/li>\n\n\n\n
- When the market cycle is a bull trend, the probability is that it will continue in trending higher. <\/li>\n\n\n\n
- Furthermore, when the market cycle changes, it will probably be into a trading range, instead of a bear trend or a bull breakout of the current bull channel.\n
\n- At any moment that there is a reversal down, traders should expect buyers below prior higher lows, specially at major higher lows like the one around $19500.<\/li>\n\n\n\n
- The price will most likely hold the $20000 big round number if there is a reversal down. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Now, the price is stalling around $32000, and it is failing to close above 50 percent retracement of 2022’s bear trend. <\/li>\n\n\n\n
- Bulls:\n
\n- They want to continue the bull trend and achieve their bull targets:\n
\n- Head and Shoulders Bottom (HSB) Measured Move (MM).<\/li>\n\n\n\n
- Ultimately, the 2022’s high.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- If the price returns to the HSB breakout point, they will still expect a reversal up and a resumption of the bull trend. <\/li>\n\n\n\n
- Their bull trend thesis is only over if the price goes sideways for a long time, or if the price trades at the major higher low. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
\n- The price is failing to close above 50 percent retracement, and hence, they think that a reversal down from here might be underway.<\/li>\n\n\n\n
- The price needs to close the gap between the price and the bull flag’s breakout point at around $28700, to lower the bull strength. <\/li>\n\n\n\n
- The best that bears can expect is a trading range instead of a bear trend. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Swing Bulls:\n
\n- A bear doji with a bull body, it is not a good buy signal bar. Moreover, the price it is failing to close above 50 percent resistance. The Bulls should wait.<\/li>\n\n\n\n
- The swing bulls who bought the bull signal three weeks ago will probably hold their trade because the bull trend can perfectly continue. <\/li>\n\n\n\n
- However, reducing the position size by half below the current week’s low might be a good risk management strategy, since the price it is reversing down and this might present a future opportunity to buy lower. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Swing Bears:\n
\n- They view this like a Low 1 while failing to close above 50 percent resistance. But it has never been a high probability trade to sell while the price comes from higher lows and higher highs. Hence, it is a low probability trade.<\/li>\n\n\n\n
- Moreover, the next market cycle will probably be a trading range and not a bear trend, which means that the downside potential is not promising, at least nowadays. A neutral to low probability trade with a bad risk reward ratio is not attractive for bears. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n![\"july](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/bitcoin-daily-tight-trading-range-after-bull-breakout.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- During the week, Bitcoin continued within a tight trading range after June’s bull breakout. <\/li>\n\n\n\n
- June’s bull breakout was strong, traders expected a channel after such a spike. Instead, a tight trading range followed. Moreover, the tight trading range formed a wedge top. <\/li>\n\n\n\n
- After a wedge top, what normally follows is two legs sideways to down: traders expect a low 2 and a high 2 setup to create soon.<\/li>\n\n\n\n
- Bulls: \n
\n- They still expect a bull trend, but now they think that the price might go down first to find more buyers.<\/li>\n\n\n\n
- Ultimately, they want to continue up until a 1:1 of the bull flag size is reached.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
\n- They need a bear breakout of the tight trading range or consecutive bear bars before selling. <\/li>\n\n\n\n
- Want closes below the bull flag’s breakout point, which means consolidate below the buy zone. <\/li>\n\n\n\n
- Ultimately, they would like to get down to the bull breakout’s low, which will invalidate the spike and channel thesis. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Swing bulls:\n
\n- They still believe that the june’s bull breakout will play a role. Hence, they look for ways to buy:\n
\n- Wait for a good bull signal bar after a high 2 setup. <\/li>\n\n\n\n
- Consecutive bull bars.<\/li>\n\n\n\n
- Bull breakout of the tight trading range.<\/li>\n\n\n\n
- Buy at a 50% retracement of the bull breakout.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- The stop loss is the same, a tick below the bull breakout.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Swing bears:\n
\n- They see a wedge top and a good bear bar, but they should wait since the price it is still above the 20-day Exponential Moving Average and anything within the June’s bull breakout is a buy zone. \n
\n- They need more sideways trading until traders forget June’s bull breakout.<\/li>\n\n\n\n
- Or a strong bear breakout, and get down to the major higher low to end the bull thesis. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- This week’s candlestick is a bear reversal bar with a tiny bull body. It is failing to close above 50 percent retracement.<\/li>\n\n\n\n
- This year, the price was in a bull trend: higher lows and higher highs. <\/li>\n\n\n\n
- When the market cycle is a bull trend, the probability is that it will continue in trending higher. <\/li>\n\n\n\n
- Furthermore, when the market cycle changes, it will probably be into a trading range, instead of a bear trend or a bull breakout of the current bull channel.\n
\n- At any moment that there is a reversal down, traders should expect buyers below prior higher lows, specially at major higher lows like the one around $19500.<\/li>\n\n\n\n
- The price will most likely hold the $20000 big round number if there is a reversal down. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Now, the price is stalling around $32000, and it is failing to close above 50 percent retracement of 2022’s bear trend. <\/li>\n\n\n\n
- Bulls:\n
\n- They want to continue the bull trend and achieve their bull targets:\n
\n- Head and Shoulders Bottom (HSB) Measured Move (MM).<\/li>\n\n\n\n
- Ultimately, the 2022’s high.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- If the price returns to the HSB breakout point, they will still expect a reversal up and a resumption of the bull trend. <\/li>\n\n\n\n
- Their bull trend thesis is only over if the price goes sideways for a long time, or if the price trades at the major higher low. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
\n- The price is failing to close above 50 percent retracement, and hence, they think that a reversal down from here might be underway.<\/li>\n\n\n\n
- The price needs to close the gap between the price and the bull flag’s breakout point at around $28700, to lower the bull strength. <\/li>\n\n\n\n
- The best that bears can expect is a trading range instead of a bear trend. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Swing Bulls:\n
\n- A bear doji with a bull body, it is not a good buy signal bar. Moreover, the price it is failing to close above 50 percent resistance. The Bulls should wait.<\/li>\n\n\n\n
- The swing bulls who bought the bull signal three weeks ago will probably hold their trade because the bull trend can perfectly continue. <\/li>\n\n\n\n
- However, reducing the position size by half below the current week’s low might be a good risk management strategy, since the price it is reversing down and this might present a future opportunity to buy lower. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Swing Bears:\n
\n- They view this like a Low 1 while failing to close above 50 percent resistance. But it has never been a high probability trade to sell while the price comes from higher lows and higher highs. Hence, it is a low probability trade.<\/li>\n\n\n\n
- Moreover, the next market cycle will probably be a trading range and not a bear trend, which means that the downside potential is not promising, at least nowadays. A neutral to low probability trade with a bad risk reward ratio is not attractive for bears. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- During the week, Bitcoin continued within a tight trading range after June’s bull breakout. <\/li>\n\n\n\n
- June’s bull breakout was strong, traders expected a channel after such a spike. Instead, a tight trading range followed. Moreover, the tight trading range formed a wedge top. <\/li>\n\n\n\n
- After a wedge top, what normally follows is two legs sideways to down: traders expect a low 2 and a high 2 setup to create soon.<\/li>\n\n\n\n
- Bulls: \n
\n- They still expect a bull trend, but now they think that the price might go down first to find more buyers.<\/li>\n\n\n\n
- Ultimately, they want to continue up until a 1:1 of the bull flag size is reached.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
\n- They need a bear breakout of the tight trading range or consecutive bear bars before selling. <\/li>\n\n\n\n
- Want closes below the bull flag’s breakout point, which means consolidate below the buy zone. <\/li>\n\n\n\n
- Ultimately, they would like to get down to the bull breakout’s low, which will invalidate the spike and channel thesis. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Swing bulls:\n
\n- They still believe that the june’s bull breakout will play a role. Hence, they look for ways to buy:\n
\n- Wait for a good bull signal bar after a high 2 setup. <\/li>\n\n\n\n
- Consecutive bull bars.<\/li>\n\n\n\n
- Bull breakout of the tight trading range.<\/li>\n\n\n\n
- Buy at a 50% retracement of the bull breakout.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- The stop loss is the same, a tick below the bull breakout.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Swing bears:\n
\n- They see a wedge top and a good bear bar, but they should wait since the price it is still above the 20-day Exponential Moving Average and anything within the June’s bull breakout is a buy zone. \n
\n- They need more sideways trading until traders forget June’s bull breakout.<\/li>\n\n\n\n
- Or a strong bear breakout, and get down to the major higher low to end the bull thesis. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- \n
- At any moment that there is a reversal down, traders should expect buyers below prior higher lows, specially at major higher lows like the one around $19500.<\/li>\n\n\n\n
- The price will most likely hold the $20000 big round number if there is a reversal down. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Now, the price is stalling around $32000, and it is failing to close above 50 percent retracement of 2022’s bear trend. <\/li>\n\n\n\n
- Bulls:\n
- \n
- They want to continue the bull trend and achieve their bull targets:\n
- \n
- Head and Shoulders Bottom (HSB) Measured Move (MM).<\/li>\n\n\n\n
- Ultimately, the 2022’s high.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- If the price returns to the HSB breakout point, they will still expect a reversal up and a resumption of the bull trend. <\/li>\n\n\n\n
- Their bull trend thesis is only over if the price goes sideways for a long time, or if the price trades at the major higher low. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
- \n
- The price is failing to close above 50 percent retracement, and hence, they think that a reversal down from here might be underway.<\/li>\n\n\n\n
- The price needs to close the gap between the price and the bull flag’s breakout point at around $28700, to lower the bull strength. <\/li>\n\n\n\n
- The best that bears can expect is a trading range instead of a bear trend. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n
- \n
- Swing Bulls:\n
- \n
- A bear doji with a bull body, it is not a good buy signal bar. Moreover, the price it is failing to close above 50 percent resistance. The Bulls should wait.<\/li>\n\n\n\n
- The swing bulls who bought the bull signal three weeks ago will probably hold their trade because the bull trend can perfectly continue. <\/li>\n\n\n\n
- However, reducing the position size by half below the current week’s low might be a good risk management strategy, since the price it is reversing down and this might present a future opportunity to buy lower. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Swing Bears:\n
- \n
- They view this like a Low 1 while failing to close above 50 percent resistance. But it has never been a high probability trade to sell while the price comes from higher lows and higher highs. Hence, it is a low probability trade.<\/li>\n\n\n\n
- Moreover, the next market cycle will probably be a trading range and not a bear trend, which means that the downside potential is not promising, at least nowadays. A neutral to low probability trade with a bad risk reward ratio is not attractive for bears. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n
- \n
- During the week, Bitcoin continued within a tight trading range after June’s bull breakout. <\/li>\n\n\n\n
- June’s bull breakout was strong, traders expected a channel after such a spike. Instead, a tight trading range followed. Moreover, the tight trading range formed a wedge top. <\/li>\n\n\n\n
- After a wedge top, what normally follows is two legs sideways to down: traders expect a low 2 and a high 2 setup to create soon.<\/li>\n\n\n\n
- Bulls: \n
- \n
- They still expect a bull trend, but now they think that the price might go down first to find more buyers.<\/li>\n\n\n\n
- Ultimately, they want to continue up until a 1:1 of the bull flag size is reached.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
- \n
- They need a bear breakout of the tight trading range or consecutive bear bars before selling. <\/li>\n\n\n\n
- Want closes below the bull flag’s breakout point, which means consolidate below the buy zone. <\/li>\n\n\n\n
- Ultimately, they would like to get down to the bull breakout’s low, which will invalidate the spike and channel thesis. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n
- \n
- Swing bulls:\n
- \n
- They still believe that the june’s bull breakout will play a role. Hence, they look for ways to buy:\n
- \n
- Wait for a good bull signal bar after a high 2 setup. <\/li>\n\n\n\n
- Consecutive bull bars.<\/li>\n\n\n\n
- Bull breakout of the tight trading range.<\/li>\n\n\n\n
- Buy at a 50% retracement of the bull breakout.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- The stop loss is the same, a tick below the bull breakout.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Swing bears:\n
- \n
- They see a wedge top and a good bear bar, but they should wait since the price it is still above the 20-day Exponential Moving Average and anything within the June’s bull breakout is a buy zone. \n
- \n
- They need more sideways trading until traders forget June’s bull breakout.<\/li>\n\n\n\n
- Or a strong bear breakout, and get down to the major higher low to end the bull thesis. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- They see a wedge top and a good bear bar, but they should wait since the price it is still above the 20-day Exponential Moving Average and anything within the June’s bull breakout is a buy zone. \n
- They still believe that the june’s bull breakout will play a role. Hence, they look for ways to buy:\n
- Swing bulls:\n
- Swing Bulls:\n
- They want to continue the bull trend and achieve their bull targets:\n