BTC Dip - Sunday 4th August 2024
BTC-USD BABB 12 Hour Chart
Sunday 4th August 2024
We appear to have melted through the channel marked out, but are on target for the Fibonacci retracement levels of $59,460 USD . We have already hit $59,877 and we have a lower fib level of $58,170 USD to hit, which I think we would get a good bounce off to continue trading in the range we have seen the last month or two.
I did say in the previous report that in AUD it translates to a 90k to 94.5k AUD buy range, which would be a good entry if you wanted to trade this chop. We are currently at 93k AUD, and did dip into the
92K area. Keep some bids in for some lower dips to lower your average buy price.
On the daily, we are on a TD5 count and if this was to be perfected, we are looking at a low on Wednesday 9th August before we head back up into the top of the range.
Note there has been weakness in the DXY, and BTC has followed on the news of weak unemployment figures in the US and talks of possible rate cuts in September, all lining up to prop up markets leading into the US elections.
Be on the look out for more PsyOps, Cyber Attacks or war flare ups which would increase the cost of crude oil and crash markets.
Stay vigilante Crypto Pirates.
Peace in the Middle East.
f.society, f.police, f.govt, f.politicians.
Sunday 4th August 2024
We appear to have melted through the channel marked out, but are on target for the Fibonacci retracement levels of $59,460 USD . We have already hit $59,877 and we have a lower fib level of $58,170 USD to hit, which I think we would get a good bounce off to continue trading in the range we have seen the last month or two.
I did say in the previous report that in AUD it translates to a 90k to 94.5k AUD buy range, which would be a good entry if you wanted to trade this chop. We are currently at 93k AUD, and did dip into the
92K area. Keep some bids in for some lower dips to lower your average buy price.On the daily, we are on a TD5 count and if this was to be perfected, we are looking at a low on Wednesday 9th August before we head back up into the top of the range.
Note there has been weakness in the DXY, and BTC has followed on the news of weak unemployment figures in the US and talks of possible rate cuts in September, all lining up to prop up markets leading into the US elections.
Be on the look out for more PsyOps, Cyber Attacks or war flare ups which would increase the cost of crude oil and crash markets.
Stay vigilante Crypto Pirates.
Peace in the Middle East.
f.society, f.police, f.govt, f.politicians.
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