![BTCUSD Bitstamp 071117](https://s20.postimg.org/qa0ugocql/BTCUSD_Bitstamp_Daily_071117.png)

## BTC/USD Daily Analysis

**Price Feed:** Bitstamp

**Daily Trend Mode:** < Failed breakout, Bearish >

**Bollinger Bands:** Upper 2,692 / Middle 2,525 / Lower 2,358
*(20 bars, 2 Standard Deviations, Simple)*

**Price Watch:** 2,100 - 2,200

----
## Summary

What a difference a few days make. *(Excuse the graphical glitch on the chart, the high-low range of the current daily bar isn't correct.)* This is why stops exist. The small probability of getting some upward traction has failed, and with it the 2,400 - 2,500 band that was part of the larger triangle I had my eye on.

Considering the turmoil in the alts at the moment, this decline isn't too shocking in comparison. We're currently experiencing a slight bounce on the intraday, but I don't think we're out of the woods just yet. The Daily read has leaned to Bear, and the intraday 4-Hour chart is also in that mode.

What this means to me is that despite upward feints, we're not going to see a lot of positive movement. Any rallies will fade and new lows are more likely on a intraday basis.

This brings the new price watch band of 2,100 - 2,200 into effect -- which does have a higher probability of being breached if volatility continues to rise. We haven't seen a large spike in volatility just yet, even with the decline, so we must be wary and factor that into our trading plans.

Into every winding triangle some red must fall, and it most certainly is this time around. Its just a natural part of the market, so I'm not really sad about it - just waiting for the right opportunity to catch a low. *(But we aren't there yet...)*

Stay focused and stay safe -- good trading!

----

*(c)2017 by TallTim - This information is provided for educational and informational purposes only. There is no implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in this post is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. You should not make any decision regarding finance, investments, or trading based on any of the information presented in this post without undertaking your own due diligence and consultation.*