/biz/ - Business & Finance

>>14855638
>BTC on 18JUL2019 @ 1500UTC

1. I guess you'd like an explanation for why price violently reacted away from ~9500. Look no further than the DAILY and 4HOURLY LOWER 1.25 CONTAINMENT ZONE. Price had been attempting to breach the DAILY LOWER 1.25, but if you not there is no close actually below the benchmark, if there HAD been a close below this benchmark, then the next available support area would have been the WEEKLY and MONTHLY LOWER 1.25 benchmark, somewhere wbetween 8500-8900 (again this would only apply up until the end of the WEEKLY/MONTHLY candles).
The price closing well above the DAILY LOWER 1.25 is obvious once you zoom in slightly. I've circled it and you can even see the blank space just under both the candles closest to the ~9419 price, this suggest a short term bullish opportunity, maybe only short enough to play out through this week and the end of the month. The price reacting to the DAILY LOWER 1.25 is also apparent on the 4HOURLY time frame where sure it was breached, but the DAILY chart confirmed that it wouldn't be taken lower, which is why you see the choppy in and out candle on the 4HOURLY chart as it attempted to break the 4HOURLY and DAILY LOWER 1.25 benchmarks. Again, this is reinforced by the volume that came in eventually. I'm sure if we had looked to the lower time frames we would have found the micro analysis needed to confirm the DAILY LOWER 1.25 hold earlier.