Chart – BTC Projection (07-18-2022)

Gráfica – Proyección BTC (18-07-2022)

Attached is the 4 hr. chart of BTC against USD, at a focal price of $22,291 (own elaboration in Tradingview). On the previous July 12, I showed you the Rainbow Price Chart Indicator, in which we referred to an elevated BTC “Dip” probability, around $20,000, and its immediate consequences. The chart shows a “clear” buy signal at that level (algorithmic), given on July 14, which is currently shown gaining more than 10%. However, even more relevant is that the price is accompanied by volume (relative strength index), drawing a bullish pennant pointing to $25,000 as the next short-term trade. The next major resistance is at $28,000, for which the price will have to reach “consolidated”, in order to break it and end the bearish season of our main underlying. We will keep you updated on further developments.