BTC looks to be bottoming out or more fear ahead? (Daily Update)

2024年9月3日

Hello traders, this is my daily update on BTC. The daily updates aim to give you a sense of where the reversion zones are, and I will try to post these as often as possible. For live updates, you know where to go 😉

I highlighted with a red marker the area on my indicator that shows a bit of a bullish trend, and you can see in the price the impulse irrational move that drove the price against the trend. Hence, this area is expected to be revisited, and I expect the price to be above
59K
once more.

Looking at the overall trend by going to 4-hour period, it gets interesting.



Here we can see a similar impulse move of price against the trend. This leaves a zone open at roughly 53.7k. So we are to expect more downward movement in price. However, this could very well wait until we see the price going back all the way to the top of around $67-72k. If I must pick a direction, I think it will go lower.

There is no point in predicting, the long-term direction is very uncertain right now. Best to take small impulses away and towards zones in lower time frames.

I wish you many green pips 🤑

2024年9月3日

註釋

Here is where it's going next. Once the lower zone clears, BTC might be ready to turn back up and go towards the zone at $59k.

2024年9月4日

註釋

We got another impulse to move up with a zone to the bottom to clear. If the price holds at the lower zone level, we might be ready to turn up and flip poles towards the long side today.