Starting a downtrend?According to the trend line and previous Bitcoin movements, the price is likely to return to 54,000, and the presence of positive news in the market can also mean that the whales want to sell to others at a higher price for a profit and buy at a lower price.
So if it's not weird news to pump the market, the first target is the line and the price is 54,000.
And then, if the trend line is not broken, start the uptrend to higher targets
Note that there is no certainty in the market and it should not proceed according to my analysis.
This analysis is my personal opinion and can be different for everyone.
Dwontrend
Bitcoin GOING 31500 again ??? 8/7/2021 Time : 4hour
Indication : Fibonacci retracement
As the downtrend Fibonacci retracement as attached ,
There was very strong resistance at the 0.5 which is 35000, since within 5 days cannot break through. we can make sure recently 35000 was a big resistance.
Today the price drop to the 0.618 area around 32800 - 33500 . For Fibo 0.618, the price will struggle at the movement.
Strategy of the day 8/7/2021
Short BTC
Entry price : 33800-34100
CL : 34600
TP 1 : 32600
TP 2 : 31500
Good luck =)