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Kryptochristian
Aug 17, 2021 10:44 AM

#BTCUPDATE - 17.8.21 ASCENDING TRIANGLE OR DUMP? 

Bitcoin / TetherUSBinance

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A strong wake up from the US has seen a push back into this ascending triangle. Whilst it looks positive right now I am still not fully sold that we aren't going to test some lower regions - again I still think 43k is a target here.

Holding above 46.6k will be a start - although still another trendline to break that is struggling to break.

We will meet 48K with resistance no doubt and a break through will highly likely see a huge rejection at 50k region maybe a little higher. As mentioned yesterday we are going to see some serious volatility over the coming couple of weeks.

My play is a break below 45.7k then short to 43k, holding above 46.6k then long to 48K with a 2nd target of 50k.

This is all subject to news drops - I have a "feeling" based on news cycles recently that some very very big BTC FOMO is about to drop. Tin foil hat theory!
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