BTCUSDT 21250 ETHUSDT 1630 Short term update August 20 2022
*BTCUSDT 21250 ETHUSDT 1630 Short term update August 20 2022*
A) Btcusdt has broken the parallel channel. Now price actions could be looking to target the next fibs:
1)20100-0.618fib (secure profits up to 15%)
2)19000-18300-0.786-0.888 (secure profits again up to 15%). Bears need to make sure to secure at least 50% profits in the 18-17ks and up to 75% if it hits the 16ks
B) Will focus later on the 1.27fib at ~16k once we get more date in the next few days/weeks
For the upside resistance, 24k will represent the pivot resistance. Therefore, bears need to secure some PROFITS and put stop lost above 24k.
Then continue to secure profits as mentioned in 1 & 2
C) If bulls take a cheap shot and create Bart Simpson(by hitting the 24k SL, then will reevaluate for the next setup.
A) Btcusdt has broken the parallel channel. Now price actions could be looking to target the next fibs:
1)20100-0.618fib (secure profits up to 15%)
2)19000-18300-0.786-0.888 (secure profits again up to 15%). Bears need to make sure to secure at least 50% profits in the 18-17ks and up to 75% if it hits the 16ks
B) Will focus later on the 1.27fib at ~16k once we get more date in the next few days/weeks
For the upside resistance, 24k will represent the pivot resistance. Therefore, bears need to secure some PROFITS and put stop lost above 24k.
Then continue to secure profits as mentioned in 1 & 2
C) If bulls take a cheap shot and create Bart Simpson(by hitting the 24k SL, then will reevaluate for the next setup.
