BTC shows signs of a bottom being formed

2020年8月28日

Long from $11250

2020年8月28日

註釋

Still possible that BTC taps the liquidity area which I am prepared to buy. Break below the $10550 low and we're likely headed to $9200 and/or low $8000s.

However, for now, this is a dip buying opportunity to me.

2020年8月28日

註釋

3d chart shows a trendline touch could be possible in the next 3-6 days then we could be on our way back to $13k+

Obviously we have multiple resistance hurdles between $11.4k (price now) and $13k+ but it'd increase the chances to bounce of support and push off

2020年8月29日

註釋

I've kept my analysis simple and stated that BTC is bullish in this large range between $10.5k and $12k on the 4h chart.

If we break below $10.5k then we've changed structure and it's possible we head lower towards $9300 or low $8k.

Until $10.5k breaks, the trend is still bullish. DXY continues to stay relatively weak and the Fed policy in the US still allows for risk assets such as Equities, Gold, and BTC to perform well because asset managers need to put their money somewhere.