#Bitcoin = Daily Analysis = 25.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading

Today’s $BTC candle was not high enough to cancel the Bearish Engulfing that happened yesterday. Bears are still in the driver’s seat. Let’s explore the hypothesis.

CANDLES

Daily
Today BTC made a good attempt to recover damage by Bearish Engulfing yesterday. The green candle formed a Piercing Line and even closed above 8 EMA line. However, the other indicators seem to be not big fans of bullish continuation.
Anyway, the battle is ongoing and I am expecting BTC to decide on the direction in the next few days.

There are so many possible outcomes for the weekly and monthly candles that I am going to wait until Aug 28 and 31 respectively to interpret the final ones.
Odds: Neutral

ELLIOTT WAVES AND FORECAST

This section contains the EW perspective, the discussion on the possible targets and the critical levels.

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