Bitcoin futures<\/h2>\n\n\n\nThe logarithmic Monthly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n![\"Bitcoin](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/bitcoin-monthly-1st-leg-up-loss-of-momentum.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- July’s candlestick is a small bear reversal bar. It is the follow through bar of a bull outside up bar buy signal bar. <\/li>\n\n\n\n
- The context is the following:\n
\n- A major bull flag followed the late 2020 bull breakout. The bull flag was also a tight bear channel. <\/li>\n\n\n\n
- After a Wedge Bull Flag, there normally comes two legs sideways to up. But, the bull flag was tight enough to expect, with high chances, that the 1st leg up will fail. <\/li>\n\n\n\n
- The 2nd leg up will have a 40% chance of reverse up towards, at least, the major lower high.<\/li>\n\n\n\n
- The price is currently doing the 1st leg up after a Wedge Bull Flag. <\/li>\n\n\n\n
- Presently, the bulls look not strong.\n
\n- Bars are tight and bull bars are not followed by bull bars.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- The conclusion is that there is a 1st leg up that is losing momentum. <\/li>\n\n\n\n
- A 1st leg up loss of momentum, normally suggests that a retracement of the leg is underway.<\/li>\n\n\n\n
- Moreover, price is within a sell zone trying to reverse down from a 50% retracement of the 2022’s tight bear channel. <\/li>\n\n\n\n
- But before the bear channel (major bull flag), there was a fair and strong bull trend, that achieved a Measured Move up based upon the size of the prior trading range between 2017 and 2020. \n
\n- A bull trend that achieves the prior range’s measured move it is considered fair and strong, the chances that the next market cycle will be a trading range instead of a bear trend are reasonably high. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Conclusion:\n
\n- The price is probably within a trading range, the low being the 2022’s low and the high is to be determined, but might be $40000 big round number, the major lower high or the all-time high. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bulls:\n
\n- They want the 1st leg to go up as far as possible before there is a retracement.<\/li>\n\n\n\n
- But they were unable to create good consecutive bull bars during the 1st leg up and hence, the probability of a price correction is increasing. <\/li>\n\n\n\n
- The bulls hope that when the correction comes, the bears will fail to trade below the 2022’s low, and that the price will create a higher low major trend reversal. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
\n- They are within a short-term sell zone, and they want to bet that the price will trade below the 2022 at some point. <\/li>\n\n\n\n
- The problem for the bears is that the price is probably at a buy zone of a major trading range (based upon the size of the bull flag).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Bulls: \n
\n- A bear bar following a bull signal bar, it is not a good buy signal bar. <\/li>\n\n\n\n
- Bulls who bought June’s bull outside bar will be disappointed by the follow through bar and exit their positions below a bear bar. <\/li>\n\n\n\n
- Many bulls are waiting for the higher low bull major trend reversal setup to develop before placing entries. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
\n- July’s candlestick, it is not a good sell signal bar.<\/li>\n\n\n\n
- Bears want a stronger bear bar or a low 2 setup.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n![\"\"](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/08\/bitcoin-weekly-test-of-bull-flag-apex-towards-minor-HL.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- This week’s candlestick is a bear doji. This bear bar, it is following two consecutive bear bars.<\/li>\n\n\n\n
- The context is the following:\n
\n- There is a Head and Shoulders Bottom, and the bulls did a breakout of the neck line.<\/li>\n\n\n\n
- The bulls tested the breakout point during the creation of a bull flag, and then, the price reversed up strongly from there and created a bull signal bar.<\/li>\n\n\n\n
- The Bulls wanted a measured move (MM) up based upon the size of the bull flag. Instead, the price is returning to the Apex of the bull flag.<\/li>\n\n\n\n
- If the price gets to the Apex, it means that the price it is more likely within a trading range than within a trend market cycle.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bulls:\n
\n- They want a reversal up from the Apex and then create another opportunity to buy. Their minimum objective will be the HSB MM. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
\n- They want to get to the major higher low, there, there will probably be buyers. But first, it has to test the minor higher low. <\/li>\n\n\n\n
- Many retail traders have their stop loss at the minor higher low, a place that the price can perfectly test and then do a resumption up of the trend. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Bulls:\n
\n- They are out of prior trades, or at least partially. Now, they want to buy more. <\/li>\n\n\n\n
- Before buying, they should wait for a double bottom to form or a good bull bar surging from the Apex.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- July’s candlestick is a small bear reversal bar. It is the follow through bar of a bull outside up bar buy signal bar. <\/li>\n\n\n\n
- The context is the following:\n
\n- A major bull flag followed the late 2020 bull breakout. The bull flag was also a tight bear channel. <\/li>\n\n\n\n
- After a Wedge Bull Flag, there normally comes two legs sideways to up. But, the bull flag was tight enough to expect, with high chances, that the 1st leg up will fail. <\/li>\n\n\n\n
- The 2nd leg up will have a 40% chance of reverse up towards, at least, the major lower high.<\/li>\n\n\n\n
- The price is currently doing the 1st leg up after a Wedge Bull Flag. <\/li>\n\n\n\n
- Presently, the bulls look not strong.\n
\n- Bars are tight and bull bars are not followed by bull bars.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- The conclusion is that there is a 1st leg up that is losing momentum. <\/li>\n\n\n\n
- A 1st leg up loss of momentum, normally suggests that a retracement of the leg is underway.<\/li>\n\n\n\n
- Moreover, price is within a sell zone trying to reverse down from a 50% retracement of the 2022’s tight bear channel. <\/li>\n\n\n\n
- But before the bear channel (major bull flag), there was a fair and strong bull trend, that achieved a Measured Move up based upon the size of the prior trading range between 2017 and 2020. \n
\n- A bull trend that achieves the prior range’s measured move it is considered fair and strong, the chances that the next market cycle will be a trading range instead of a bear trend are reasonably high. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Conclusion:\n
\n- The price is probably within a trading range, the low being the 2022’s low and the high is to be determined, but might be $40000 big round number, the major lower high or the all-time high. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bulls:\n
\n- They want the 1st leg to go up as far as possible before there is a retracement.<\/li>\n\n\n\n
- But they were unable to create good consecutive bull bars during the 1st leg up and hence, the probability of a price correction is increasing. <\/li>\n\n\n\n
- The bulls hope that when the correction comes, the bears will fail to trade below the 2022’s low, and that the price will create a higher low major trend reversal. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
\n- They are within a short-term sell zone, and they want to bet that the price will trade below the 2022 at some point. <\/li>\n\n\n\n
- The problem for the bears is that the price is probably at a buy zone of a major trading range (based upon the size of the bull flag).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Bulls: \n
\n- A bear bar following a bull signal bar, it is not a good buy signal bar. <\/li>\n\n\n\n
- Bulls who bought June’s bull outside bar will be disappointed by the follow through bar and exit their positions below a bear bar. <\/li>\n\n\n\n
- Many bulls are waiting for the higher low bull major trend reversal setup to develop before placing entries. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
\n- July’s candlestick, it is not a good sell signal bar.<\/li>\n\n\n\n
- Bears want a stronger bear bar or a low 2 setup.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n\n- This week’s candlestick is a bear doji. This bear bar, it is following two consecutive bear bars.<\/li>\n\n\n\n
- The context is the following:\n
\n- There is a Head and Shoulders Bottom, and the bulls did a breakout of the neck line.<\/li>\n\n\n\n
- The bulls tested the breakout point during the creation of a bull flag, and then, the price reversed up strongly from there and created a bull signal bar.<\/li>\n\n\n\n
- The Bulls wanted a measured move (MM) up based upon the size of the bull flag. Instead, the price is returning to the Apex of the bull flag.<\/li>\n\n\n\n
- If the price gets to the Apex, it means that the price it is more likely within a trading range than within a trend market cycle.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bulls:\n
\n- They want a reversal up from the Apex and then create another opportunity to buy. Their minimum objective will be the HSB MM. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
\n- They want to get to the major higher low, there, there will probably be buyers. But first, it has to test the minor higher low. <\/li>\n\n\n\n
- Many retail traders have their stop loss at the minor higher low, a place that the price can perfectly test and then do a resumption up of the trend. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n\n- Bulls:\n
\n- They are out of prior trades, or at least partially. Now, they want to buy more. <\/li>\n\n\n\n
- Before buying, they should wait for a double bottom to form or a good bull bar surging from the Apex.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
- \n
- A major bull flag followed the late 2020 bull breakout. The bull flag was also a tight bear channel. <\/li>\n\n\n\n
- After a Wedge Bull Flag, there normally comes two legs sideways to up. But, the bull flag was tight enough to expect, with high chances, that the 1st leg up will fail. <\/li>\n\n\n\n
- The 2nd leg up will have a 40% chance of reverse up towards, at least, the major lower high.<\/li>\n\n\n\n
- The price is currently doing the 1st leg up after a Wedge Bull Flag. <\/li>\n\n\n\n
- Presently, the bulls look not strong.\n
- \n
- Bars are tight and bull bars are not followed by bull bars.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- The conclusion is that there is a 1st leg up that is losing momentum. <\/li>\n\n\n\n
- A 1st leg up loss of momentum, normally suggests that a retracement of the leg is underway.<\/li>\n\n\n\n
- Moreover, price is within a sell zone trying to reverse down from a 50% retracement of the 2022’s tight bear channel. <\/li>\n\n\n\n
- But before the bear channel (major bull flag), there was a fair and strong bull trend, that achieved a Measured Move up based upon the size of the prior trading range between 2017 and 2020. \n
- \n
- A bull trend that achieves the prior range’s measured move it is considered fair and strong, the chances that the next market cycle will be a trading range instead of a bear trend are reasonably high. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Conclusion:\n
- \n
- The price is probably within a trading range, the low being the 2022’s low and the high is to be determined, but might be $40000 big round number, the major lower high or the all-time high. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bulls:\n
- \n
- They want the 1st leg to go up as far as possible before there is a retracement.<\/li>\n\n\n\n
- But they were unable to create good consecutive bull bars during the 1st leg up and hence, the probability of a price correction is increasing. <\/li>\n\n\n\n
- The bulls hope that when the correction comes, the bears will fail to trade below the 2022’s low, and that the price will create a higher low major trend reversal. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears:\n
- \n
- They are within a short-term sell zone, and they want to bet that the price will trade below the 2022 at some point. <\/li>\n\n\n\n
- The problem for the bears is that the price is probably at a buy zone of a major trading range (based upon the size of the bull flag).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n
- \n
- Bulls: \n
- \n
- A bear bar following a bull signal bar, it is not a good buy signal bar. <\/li>\n\n\n\n
- Bulls who bought June’s bull outside bar will be disappointed by the follow through bar and exit their positions below a bear bar. <\/li>\n\n\n\n
- Many bulls are waiting for the higher low bull major trend reversal setup to develop before placing entries. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
- \n
- July’s candlestick, it is not a good sell signal bar.<\/li>\n\n\n\n
- Bears want a stronger bear bar or a low 2 setup.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\nAnalysis<\/h3>\n\n\n\n
- \n
- This week’s candlestick is a bear doji. This bear bar, it is following two consecutive bear bars.<\/li>\n\n\n\n
- The context is the following:\n
- \n
- There is a Head and Shoulders Bottom, and the bulls did a breakout of the neck line.<\/li>\n\n\n\n
- The bulls tested the breakout point during the creation of a bull flag, and then, the price reversed up strongly from there and created a bull signal bar.<\/li>\n\n\n\n
- The Bulls wanted a measured move (MM) up based upon the size of the bull flag. Instead, the price is returning to the Apex of the bull flag.<\/li>\n\n\n\n
- If the price gets to the Apex, it means that the price it is more likely within a trading range than within a trend market cycle.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bulls:\n
- \n
- They want a reversal up from the Apex and then create another opportunity to buy. Their minimum objective will be the HSB MM. <\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
- \n
- They want to get to the major higher low, there, there will probably be buyers. But first, it has to test the minor higher low. <\/li>\n\n\n\n
- Many retail traders have their stop loss at the minor higher low, a place that the price can perfectly test and then do a resumption up of the trend. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
Trading<\/h3>\n\n\n\n
- \n
- Bulls:\n
- \n
- They are out of prior trades, or at least partially. Now, they want to buy more. <\/li>\n\n\n\n
- Before buying, they should wait for a double bottom to form or a good bull bar surging from the Apex.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears: \n
- Bulls:\n
- Bulls: \n