#Bitcoin = Daily Analysis = 17.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWaves

For four days $BTC could not break below the last green candle. This is a statement. If tomorrow it does not close below the green one, expect the rally to resume. Let’s discuss the details of the next move.


$BTC rested for four days now. The bottom of the green candle is a very strong support level. As there is very little room left, a rally could resume right from here. Or, the price could drop below and form a hammer, closing above the support. In both cases, the rally should resume and I still view it as the most probable scenario in this formation.
However, if a candle closes below the support line tomorrow, the bears win.

If bulls win tomorrow, I continue to maintain the near-term target of $48.5-53k.
Odds: Neutral

In the next section I discuss the mid-term targets and their timing, alternative paths, the channel breakout, and the alert level.

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