Hi @everyone, here are my thoughts on BTC/USDT on a Daily Time frame today, monday Aug 2, 2021 @ 11:30AM
- So i think btc got a rejection around 41-42k key level or resistance, which can lead to a down side movement
- Looking at the 4h chart, you'll see that it has formed a bear flag parallel channel that has a bias on bears
- So, up until today, many people are still looking at this as a wyckoff accumulation phase, if this is truly a wyckoff Accumulation, based on this chart, we haven't seen the spring yet, which can be around 25-26k, only if my analysis is correct.
- For now, i think bitcoin is back again in it's range. Haha.
That's it guys! Take care! Goodluck! NFA, DYOR and TAYOR.
- So i think btc got a rejection around 41-42k key level or resistance, which can lead to a down side movement
- Looking at the 4h chart, you'll see that it has formed a bear flag parallel channel that has a bias on bears
- So, up until today, many people are still looking at this as a wyckoff accumulation phase, if this is truly a wyckoff Accumulation, based on this chart, we haven't seen the spring yet, which can be around 25-26k, only if my analysis is correct.
- For now, i think bitcoin is back again in it's range. Haha.
That's it guys! Take care! Goodluck! NFA, DYOR and TAYOR.