BTC SHORT-TERM OUTLOOK
⭐BITCOIN/⏳15-minute Timeframe
👉BITCOIN has encountered a key resistance zone (58768.63-59040.42).
👉Given the price behavior around the 5-minute timeframe's bullish trendline, as schematically illustrated, a bearish movement is prioritized.
🎯Bearish targets are as follows:
Target 1: 57795.85
Target 2: 57164.35
Target 3: 55382.60-55737.26
❌Our bearish scenario's stop-loss is a breach of the 59040.42 resistance on the 15-minute timeframe.
❌If this occurs, the bearish scenario is invalidated, and we will transition to a bullish phase with targets at:
🎯🎯🎯
Target 1: 59671.92
Target 2: 60916.49
Target 3: 62731.31
👉BITCOIN has encountered a key resistance zone (58768.63-59040.42).
👉Given the price behavior around the 5-minute timeframe's bullish trendline, as schematically illustrated, a bearish movement is prioritized.
🎯Bearish targets are as follows:
Target 1: 57795.85
Target 2: 57164.35
Target 3: 55382.60-55737.26
❌Our bearish scenario's stop-loss is a breach of the 59040.42 resistance on the 15-minute timeframe.
❌If this occurs, the bearish scenario is invalidated, and we will transition to a bullish phase with targets at:
🎯🎯🎯
Target 1: 59671.92
Target 2: 60916.49
Target 3: 62731.31
Note
🔄#GOLD analysis update - August 20
⏳Based on the 15m time-frame:
👀Guys, let's review my plan for #BITCOIN from yesterday.
‼️As long as the price was below the resistances I mentioned in the analysis, my bias was bearish.
⚠️However, I was mindful of the market's sensitivity and the possibility of an bullish movement.
✅That's exactly why I set a stop-loss for the bearish scenario at the 59040 resistance level, which coincided with the start of an bullish move in #BITCOIN🚀
This is exactly what happened, and after the growth confirmation, which I've highlighted in the image, BITCOIN entered a bullish phase and has now reached the second target of 60916.49🎉💰
Congrats to those who took reward of this opportunity🔥🤑
🎯👉The next target is 62731.31.
🔄If my perspective changes, I'll be sure to provide an update
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