BTC TA for 07/05/2019

Good afternoon Steemians, how's it going?

In today's post I will do a technical analysis of the price of the BTC, using as base the classic tool of exponential moving averages and fib circles.

To perform this analysis, I used the 1D (1 Day) view of the Binance candle chart along with the exponential averages of 7, 21, 30, 180 days, and the fib circles. In this way I have a greater scope to be able to make a safer analysis with a larger historical series.

For those who are unfamiliar with exponential moving averages, please take a look at my previous post BTC TA for 06/30/2019.

Exponential Moving Average of 7 days (EMA 7): dark blue color curve

Exponential Moving Average of 21 days (EMA 21): green color curve

30-Day Exponential Moving Average (EMA 30): yellow color curve

180 Day Exponential Moving Average (EMA 180): red color curve

Image Source: binance.com

Well, as you can see on the 1D chart view, we still have a bull trend showed by the triangle formation (blue lines).

This trend can be confirmed when we look to support and resistances on the chart (showed by the black lines) and also the possible timeframe when a major move in the market might take place.

The datas for the support/resistance lines are:

1. $7,435.10

2. $8,158.88

3. 8,659.96

4. 11,054.00

Regarding the fib circles, an estimate date for the possible major move in the market is 07/08/2019.

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