Bitcoin - 4hr Analysis - Future Outlook

BTC 👀 – 08/18/2022 | Bitcoin Price Action Update 🎯 - 📸 🚨

📌 #Price appears to have potentially completed its #DoubleThree (WXY) Complex Correction for Wave 4, in black, of the Primary degree, ending it with a contracting triangle (ABCDE in blue).

📌 To confirm the completion of Wave 4, in black, I’m looking for a 1hr to 4hr candlestick break and close below the “resistance turned support” zone, price levels $23,304.69 to $22,564.12. Obviously, a Daily candlestick close below these levels would increase my confidence in the continued bearish momentum.

📌 In the interim for trading intra-day swings, I am no longer considering long or bullish positions to be higher probability until price action confirms otherwise.

📌 Downward targets are still the same as before: $12,000.00 or below.

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⚠️ This is not investment or financial advice; Anytime you enter the #markets, you fully accept the #implications at your own risk❗️

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