#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.

CANDLES

Daily
$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.

ELLIOTT WAVES + FORECAST
This part of the analysis is visible only for subscribers. A $10 USD monthly subscription gets you access to the monthly and weekly analyses, long term forecasts on cryptocurrencies, precious metals, major US indices, popular stocks and more. There is no free trial. For $10 USD you can evaluate the service for a month and cancel it any time.

Premium Content (subscription required)

Read more of this content when you subscribe today.

=========================================================================
Reversal Call:

Previous Monthly Analysis:

Previous Weekly Analysis:

Follow the blog on Twitter @InvestingAngles and/or subscribe:
https://investingangles.com/subscription/

%d bloggers like this: