BTCUSD - Short Term Update (08/13/2024)

Not much to discuss today. Mostly the same consolidation pattern as before. We're bouncing between two support and resistance clusters and until we break out in either direction, I'm not making any hasty moves.

Only quicker, riskier trades are available at this juncture so best to just sit on your hands and wait if you're a leverage junkie. Be careful and don't chase trades. Have a plan and execute on that plan.

If we break down, I will be looking for a move to the 50-61.8% internal retracement around $54,500 before moving to 68k and if we break up, I'll be looking for reclaimed support around 60k to make that move up toward 73k.