When we look to the 4 hour chart, we can see a head&shoulders pattern is forming. First shoulder started July 17th and ended in July 28th. And than head formation started in July 29th and ended in August 15. Seems like second shoulder has also started in August 15th.
We can guess that the second shoulder formation would also take around 11 days as well, and the fall down will be starting at the end of August.
Strategy: Sell BTC when the price go up to 11.500 which will be near to the top of second shoulder.
First target will be the height of shoulders and around 8.100-8.200
Second target will be the height of head and that is around 7.300-7.400
We can guess that the second shoulder formation would also take around 11 days as well, and the fall down will be starting at the end of August.
Strategy: Sell BTC when the price go up to 11.500 which will be near to the top of second shoulder.
First target will be the height of shoulders and around 8.100-8.200
Second target will be the height of head and that is around 7.300-7.400