10.07.23 - 16.07.23
Last week results
Instruments:
Over the past week, Bitcoin again formed a new price high. And immediately after that, the price rolled back. This was the most significant movement of the week and the rest of the time the price hung in a narrow channel.
▶️(BTC) attempted to break away from its boring sideways price action on July 13, following Ripple’s legal victory over the United States Securities and Exchange Commission, but the enthusiasm proved to be short-lived. Sellers pulled the price back into the range on July 14, indicating that they remain active at higher levels. However, a positive sign is that the bulls have kept Bitcoin’s price above $30,000.
▶️ A former federal prosecutor turned chief executive of a crypto-focused venture capital fund says she would be “surprised” if the United States securities regulator lodges an immediate appeal against the Ripple case ruling, as it currently benefits from lack of “legal clarity.”
▶️Cardano experienced a remarkable price surge of 23.9% on July 13, leaving investors curious about the potential for further gains. This significant rally comes on the heels of a favorable judicial decision regarding XRP (XRP), leading many to question if Cardano (ADA) has what it takes to break above the $0.40 mark.
These week’s key events
Over the past week, Bitcoin again formed a new price high. And immediately after that, the price rolled back. This was the most significant movement of the week and the rest of the time the price hung in a narrow channel.
▶️(BTC) attempted to break away from its boring sideways price action on July 13, following Ripple’s legal victory over the United States Securities and Exchange Commission, but the enthusiasm proved to be short-lived. Sellers pulled the price back into the range on July 14, indicating that they remain active at higher levels. However, a positive sign is that the bulls have kept Bitcoin’s price above $30,000.
▶️ A former federal prosecutor turned chief executive of a crypto-focused venture capital fund says she would be “surprised” if the United States securities regulator lodges an immediate appeal against the Ripple case ruling, as it currently benefits from lack of “legal clarity.”
▶️Cardano experienced a remarkable price surge of 23.9% on July 13, leaving investors curious about the potential for further gains. This significant rally comes on the heels of a favorable judicial decision regarding XRP (XRP), leading many to question if Cardano (ADA) has what it takes to break above the $0.40 mark.
📈 BTC: You can still get in on the trend
💡 3 reasons to trade BTC now:
🔹 The market moves quite slowly, which allows you to make a deals calmly
🔹 It is recommended to combine with timeframes. Open a deal on one scale, and close on another
🔹 Great Profit/Loss ratio
💡 Technical analysis: By the way, we are exactly where we were a week ago. Despite the ups and downs. Therefore, we will consider the same tactics as it was. We are trading to break the channel. This channel is quite narrow, which means that the stop loss will be minimal. We try not to hold deals for a long time, because false breakouts often occur in the market.
Long Strategy: Open a buy trade if the price rises to $30,470. Set a Stop Loss at $30,270 and a Take Profit at $31,200.
Short Strategy: Open a trade if the price rises to $30,400 and forms a reversal pattern. Place a Stop Loss at $30,500 and a Take Profit at $30,180.
❗️ Use this opportunity to make the right decision.
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