Bitcoin Price (Aug 12 to Aug 19)
BTC had started downtrend move on Aug 13, broke below 11000 and accelerated down to core level 9400 (previous resistance turned support level)
From Aug 15 to Aug 17, the bulls regained price momentum towards swing level of 10500, creating higher lows and higher highs. A break of this level may resume bullish price action towards 11000. Although this level on the chart should be watched closely.
However, price could show strength and move further up to 11840 if price corrects above 11000.
On the other hand, a break below 10100 could continue bearish action price back to 9400. Further breakdown of this level could see price plunged to 8550.
Overview
Maintain neutral stance as the Daily chart is also showing a wide gap of consolidation.
For any questions, please feel free to reach out to me in Anchor's Trading Community via Telegram @anchortrading
Good trading & We will speak soon!
Leo_X
From Aug 15 to Aug 17, the bulls regained price momentum towards swing level of 10500, creating higher lows and higher highs. A break of this level may resume bullish price action towards 11000. Although this level on the chart should be watched closely.
However, price could show strength and move further up to 11840 if price corrects above 11000.
On the other hand, a break below 10100 could continue bearish action price back to 9400. Further breakdown of this level could see price plunged to 8550.
Overview
Maintain neutral stance as the Daily chart is also showing a wide gap of consolidation.
For any questions, please feel free to reach out to me in Anchor's Trading Community via Telegram @anchortrading
Good trading & We will speak soon!
Leo_X
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