August 04, 2018
BTC is currently on a slow grind up within the current consolidation zone between $7,500 and $7,250.
Were currently printing higher lows as we march towards the 0.236 fib level but it would not surprise us to see a bearish retreat and retest of $7,265 level as we could potentially be in a bear flag pattern.
We would view any break and close below $7,200 as a shorting opportunity to around the $6,860 level.
On the other hand, if we witness some convincing buy volume at the $7,200 mark, we would consider going long with targets as high as $7,800 but more conservatively, would look at possibly exiting at $7740 or even $7,520 depending on the bullish momentum.
Technical analysis is not my strong side. So I would only try to look at the market depending on how much Bitcoin will drop and how much it will go up. There I will decide when to buy and when to sell, but for now I was just holding my btc in a hope that I can have a bigger gain if the bullish market start to move.