#Bitcoin = Daily Analysis = 10.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWaves

$BTC took a pause today, but the option to go vertical this week to $58-60k is still on the table. Let’s explore the details from different angles.

Candles

Daily
Today’s $BTC candle is a typical pause after a strong advance. The candle and the indicators do not signal any bearish alert. The 200 MA line has been backtested and there is a good chance $BTC will resume the rally tomorrow.
Odds: Strong Bullish

Elliott Waves + Forecast

Wave 3 of (3) is likely underway and all time frames point upwards.
The target for wave (3) – $58000-60000.
An inflection area – $50000-51000. If $BTC strongly rejected there, could be a trend change.

It looks like $BTC is leaning towards a more aggressive red channel. If this is the case, we could see 3-5 very strong green candles this week, possibly completing wave (3). The green channel is still an option – $BTC at the crossroads now.

As a reminder, the daily RSI is flirting with the overbought line and a reversal could happen any time. Please exercise caution.

Alternatively, there is a chance that the current wave is still part of a bigger wave IV as marked on the long term chart in the weekly update. This count could become main operative if $BTC closes tomorrow below $43795.

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Reversal Call:

#Bitcoin = Daily Analysis – Reversal = 21.07.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #Elliottwave

Previous Monthly/Weekly Analysis:

#Bitcoin = Monthly Analysis = 01.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWave

#Bitcoin = Weekly Analysis = 07.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWave

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2 thoughts on “#Bitcoin = Daily Analysis = 10.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWaves

  1. Hi there

    Just subscribed to these. It thought I’d ask, – you mention July 31st a few times on the link . Have you accidentally provided the wrong link as this date was last week. Thanks in advance

    Kind regards
    L V

    Sent from my iPhone

  2. Hi there,
    Thank you for subscribing!
    Could you please send me the link to the page that has July 31 link a few times? Could be a mishap on my side – I’ll fix it right away.

    Thank you

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