At the moment of typing this BTC/USD is ranging sideways within the range of around $31,479 and around $29,627 as highlighted by the Horizontal Dotted White Lines with Yellow Shading.
BTC/USD is in a Ichimoku Y-Wave Pattern otherwise known as a Broadening Wedge Pattern or a Megaphone Pattern on this 1 day timeframe.
We have contraction of the Bollinger Bands Upper and Lower Bands. Note that at the moment of typing this BTC has found support from its Middle Band Basis 20 Period SMA.
I have added 2 Fixed Range Volume Profiles (FRVP).
The 1st VFVP starts at the impulse from Thursday 15th June until Thursday 22nd June. Note that BTC is well above this FRVP POC (Point of Control).
The 2nd is at the start of the Ranging Sideways Movement from Friday 23rd June until Friday 7th June. Note that BTC is below this FRVP POC (Point of Control).
I have added a Fib Retracement Tool from the low at the start of the Impulse to the recent high. As you can see BTC/USD has found some support from its 0.236 / 23.60% Fib level.
I have also added a Trend-Based Fib Extension Tool so you can see the various Support and Resistance lines for this tool with the high/low range i have selected.
BTC/USD is still below its Least Squares Moving Average (LSMA) indicator. Note that the Price has not closed above the LSMA since Thursday 29th June.
Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line had crossed below its Signal Line on Thursday 6th July but both lines are still in the Positive Zone above the 0.00 Base Line.
All in all it’s interesting times, at the moment of typing this BTC/USD momentum is moving within a Range:
For the positive side: An impulse move upwards with strong bullish volume with a successful daily candle CLOSE above $31,479 and successful re-test as strong SUPPORT is key for a bullish outlook.
For the negative side: An impulse move downwards with strong bearish volume with a successful daily candle CLOSE below $29,627 and successful re-test as strong RESISTANCE is key for a bearish outlook.
I hope this quick BTC/USD post is helpful.
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First liquidity void is filled. There is another liquidity void to fill at $23,924 - $22,236.
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I still believe that BTC will fill the liquidity void below.