VIP Trade Ideas, BTC/USD, Technical Outlook, Edition #85 (21/08/
Bitcoin surges to USD 49.3K following a successful 'resistance to support' flip of the 0.5 fib retracement level at USD 46.8K.
Bitcoin, BTC/USD - Daily (D1)
The next major resistance zone for the BTC/USD trading pair is the .618 fib retracement level at USD 51K.
Watch out for a plausible run to USD 55K should buyers succeed in dictating the price reaction at the 'golden ratio'.
Need a refresher on the Golden Ratio? Read our detailed breakdown in Technical Outlook, Edition #79 (14/08/21)
Bitcoin, BTC/USD - 4 Hour (H4)
Qluster analysts plot the most immediate local support zones using the above H4 BTC/USD chart, starting with the 0.5 fib retracement level at USD 47K.
Monitor the forecasted bullish re-test for a surprise weekend pullback due to low Bitcoin exchange trading volume. Should a re-test occur, volume is requisite to absorb a downside retreat from breaking lower.
Further, Bitcoin Dominance continues playing out as expected, and many bullish altcoin setups have resumed their upside rallies.
Q's Conclusion
Before signing off this week of market hyperactivity, the Qluster Research team has decided on a special live session to conclude this trading week's analysis.
Our analysts will host another VIP trading seminar tomorrow - Sunday, at 5 PM AEST. Join us for a top-down approach to analysis and upgrade to a premium subscription now to receive your private invitation.
Teaser - Qluster Research analysts will evaluate VIP Trade Ideas published earlier and review technical forecasts in real-time!
See you again for the next update.
- q
Follow us for more detailed analysis on all markets, including Decentralised technology. Find us on Facebook!
Bitcoin, BTC/USD - Daily (D1)
The next major resistance zone for the BTC/USD trading pair is the .618 fib retracement level at USD 51K.
Watch out for a plausible run to USD 55K should buyers succeed in dictating the price reaction at the 'golden ratio'.
Need a refresher on the Golden Ratio? Read our detailed breakdown in Technical Outlook, Edition #79 (14/08/21)
Bitcoin, BTC/USD - 4 Hour (H4)
Qluster analysts plot the most immediate local support zones using the above H4 BTC/USD chart, starting with the 0.5 fib retracement level at USD 47K.
Monitor the forecasted bullish re-test for a surprise weekend pullback due to low Bitcoin exchange trading volume. Should a re-test occur, volume is requisite to absorb a downside retreat from breaking lower.
Further, Bitcoin Dominance continues playing out as expected, and many bullish altcoin setups have resumed their upside rallies.
Q's Conclusion
Before signing off this week of market hyperactivity, the Qluster Research team has decided on a special live session to conclude this trading week's analysis.
Our analysts will host another VIP trading seminar tomorrow - Sunday, at 5 PM AEST. Join us for a top-down approach to analysis and upgrade to a premium subscription now to receive your private invitation.
Teaser - Qluster Research analysts will evaluate VIP Trade Ideas published earlier and review technical forecasts in real-time!
See you again for the next update.
- q
Follow us for more detailed analysis on all markets, including Decentralised technology. Find us on Facebook!