#BTCUPDATE - 20.8.21
A FEW SCENARIOS IN PLAY
We broke down into the $43k region very briefly but got back above $44k nicely. We are not fully sold on this bounce turning momentum fully bullish yet. Currently consolidating in a bullish bull flag pattern - so it could break again either way at the moment as we are trying to break through a pretty prominent trendline - a breakup will very likely see $50k quickly and down then back to $44k/$43k.
On the daily there is a potential bearish H/S pattern in play that could drop the price to $38k if it plays out - although there is a lot of bullish momentum around BTC so this is the least likely out come imo atm.
Our play is to long to $50k if we get above $48k and short to $44k if we break down on $44.5k.
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Free Binance Future Signals
@signalforall
A FEW SCENARIOS IN PLAY
We broke down into the $43k region very briefly but got back above $44k nicely. We are not fully sold on this bounce turning momentum fully bullish yet. Currently consolidating in a bullish bull flag pattern - so it could break again either way at the moment as we are trying to break through a pretty prominent trendline - a breakup will very likely see $50k quickly and down then back to $44k/$43k.
On the daily there is a potential bearish H/S pattern in play that could drop the price to $38k if it plays out - although there is a lot of bullish momentum around BTC so this is the least likely out come imo atm.
Our play is to long to $50k if we get above $48k and short to $44k if we break down on $44.5k.
---
Free Binance Future Signals
@signalforall
#BTCUPDATE - 31.8.21
DOWNWARD CHANNEL CONTINUATION ?!
#BTC looks like it had started forming a downward channel yesterday and it was confirmed with the recent rejections.
The current state of play looks pretty "predictable" imo with some key points to target noted on the chart.
A lot of bullish volumes just dropped directly on the 20DEMA so it does look like the whales are trying to hold the price now and if we can get above and hold above $48k and push for a break up out of this channel then it should be a pretty bullish next few days failing that then $46.2k is almost guaranteed. Losing $46.2k and breaking down on the channel will see $44k quickly come into play.
Our play atm is if it breaks and holds above $48k then long to $49.3k and if we lose $47.3k then to look to short to $46.2k.
—
Free Binance Futures Signals
@signalforall
https://signalforall.com
DOWNWARD CHANNEL CONTINUATION ?!
#BTC looks like it had started forming a downward channel yesterday and it was confirmed with the recent rejections.
The current state of play looks pretty "predictable" imo with some key points to target noted on the chart.
A lot of bullish volumes just dropped directly on the 20DEMA so it does look like the whales are trying to hold the price now and if we can get above and hold above $48k and push for a break up out of this channel then it should be a pretty bullish next few days failing that then $46.2k is almost guaranteed. Losing $46.2k and breaking down on the channel will see $44k quickly come into play.
Our play atm is if it breaks and holds above $48k then long to $49.3k and if we lose $47.3k then to look to short to $46.2k.
—
Free Binance Futures Signals
@signalforall
https://signalforall.com