$BTC consolidating for August breakout $70k+
After some over performance in early July we set a Bullflag last week around 65k. Don't get shook! This time last year, in 2023, we had a long period of consolidation March-October (in white) before rising above the 30k level. This year, summer of 2024, we're rhyming.
Bearish?
BTC needs to lose the 60k level and hold us below it for at least a week. I think a bullish inverse head & shoulders is more likely but geopolitical risk, and US elections could be the wildcard. I would remain careful with shorts as the trend is upwardly volatile.
Here's the previous idea, explaining the trade:
Bearish?
BTC needs to lose the 60k level and hold us below it for at least a week. I think a bullish inverse head & shoulders is more likely but geopolitical risk, and US elections could be the wildcard. I would remain careful with shorts as the trend is upwardly volatile. Here's the previous idea, explaining the trade:
-dawson
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