BTCUSD 8/9/2021
Updated
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_________
This is a continuation update on previous TA dated 8/1/2021 in the related ideas.
I already made my purchase in July. Right now, I'm cautious as the price is approaching the important resistance areas as I mentioned in this TA.
Always be cautious than to be sorry for the losses.
Always consider the Bullish and Bearish Scenarios. Have an equal treatment on both sides.
_________
Technical Analysis
Elliot Wave is still the same.
Monthly
Weekly Timeframe
Finally! The Weekly chart indicators turns to be almost confirmed bullish. I think, the Bitcoin’s volatility will greatly increase in this week. If Bitcoin manage to break the resistance level that I mentioned in the chart, there is high probability of more price appreciation to come. But somehow, I’m closely watching the 61.80% Fibonacci at $ 48k and even the 78.60% Fibonacci for a potential price rejection. I think the confirmed Bullish Crossover on MACD will be next week also with confirmed Stock RSI above 50 Level. Some says that maybe this is a B Wave rally of an ABC Correction. Well, let’s see if Bitcoin failed or successfully to break above the resistance this week. But most likely, it will successful to break it. But in case it failed, Bears must convince it a great selling pressure volume and breaking important support and moving averages. For the moment, it looks bullish.
Daily
Currently, price is rejected by MA 200 plus a potential bearish divergence. Supports may be tested again.
4HR
1HR
_________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_________
This is a continuation update on previous TA dated 8/1/2021 in the related ideas.
I already made my purchase in July. Right now, I'm cautious as the price is approaching the important resistance areas as I mentioned in this TA.
Always be cautious than to be sorry for the losses.
Always consider the Bullish and Bearish Scenarios. Have an equal treatment on both sides.
_________
Technical Analysis
Elliot Wave is still the same.
Monthly
Weekly Timeframe
Finally! The Weekly chart indicators turns to be almost confirmed bullish. I think, the Bitcoin’s volatility will greatly increase in this week. If Bitcoin manage to break the resistance level that I mentioned in the chart, there is high probability of more price appreciation to come. But somehow, I’m closely watching the 61.80% Fibonacci at $ 48k and even the 78.60% Fibonacci for a potential price rejection. I think the confirmed Bullish Crossover on MACD will be next week also with confirmed Stock RSI above 50 Level. Some says that maybe this is a B Wave rally of an ABC Correction. Well, let’s see if Bitcoin failed or successfully to break above the resistance this week. But most likely, it will successful to break it. But in case it failed, Bears must convince it a great selling pressure volume and breaking important support and moving averages. For the moment, it looks bullish.
Daily
Currently, price is rejected by MA 200 plus a potential bearish divergence. Supports may be tested again.
4HR
1HR
_________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
Note
Sold1D
4HR
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.