Saturday afternoon and sitting behind my computer trying to figure out what is likely to happen instead of what's possible. Something i have learned from allesio rastani. Great trader!
But we are not here to talk about him. we are here to see what might happen to Bitcoin -0.53% . So far Bitcoin -0.53% has shown an insane amount of strenght the last weeks and it has come to my sense that they aren't done yet. Specially after that beartrap they made and managed to keep above 8150 shows they aren't ready for a drop. i feel like we might see a small drop down to validate the inverted head and shoulders wich might gives us that base for some increased momentum to 8.5/8.7k.
It's not so stupid to think that since the rumor about the etf , price has surged up and now with the actuall news price has consolidated. I feel like price will continue to stay in the 8k zone and when the actual news comes out in september price might hit new highs. when it's not approved i feel like we might see lower lows.
For now. price might go 8080 - 8070 and than rally back up to 8.3k. if that breaks we can see a movement up towards 8.5 to 8.7k