Bitcoin / TetherUSShort
BTC - 20 Aug 2022
Updated
BTC in multiple Time Frame
Weekly: BTC still in macro view Bearish, but confirming pattern in Descending Wedge (Bullish pattern). with Support 18k.
If Support is Broken, 12k the next target.
If Resistance is Broken, Rally to 30k
Daily: Several weeks, BTC rally from 18k to 25k, confirming pattern Ascending Wedge (Bearish Pattern). Target of Correction Short Term 21500 - achieved. probably there will be Mid Term rebound, before continue correction until 19k.
Hourly, as we see the Yellow area is crucial, due by breaking down from that, showing structure could be broken and continuation of downside is more probable than upside, with that in mind, please be careful on Buyer trying to create sudden rebound, due several indicators showing Bullish Divergence/oversold. so best scenario, is rebound until 22k then continue down side to 19k
Weekly: BTC still in macro view Bearish, but confirming pattern in Descending Wedge (Bullish pattern). with Support 18k.
If Support is Broken, 12k the next target.
If Resistance is Broken, Rally to 30k
Daily: Several weeks, BTC rally from 18k to 25k, confirming pattern Ascending Wedge (Bearish Pattern). Target of Correction Short Term 21500 - achieved. probably there will be Mid Term rebound, before continue correction until 19k.
Hourly, as we see the Yellow area is crucial, due by breaking down from that, showing structure could be broken and continuation of downside is more probable than upside, with that in mind, please be careful on Buyer trying to create sudden rebound, due several indicators showing Bullish Divergence/oversold. so best scenario, is rebound until 22k then continue down side to 19k
Note
BTC confirm breakdown after JeromePowell speech, and now in 20k teritorry, expecting to breakdown another leg to 18kNote
breakdown from 19k to 18.6k, 18k believe as the next targetNote
Breakdown has confirmed, lowest is 18.1K but believe structure still showing could go lower, waiting 18k
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