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Kryptochristian

#BTCUPDATE - 2.8.21 CLASSIC SUNDAY BEHAVIOUR

Bitcoin / TetherUS (BINANCE:BTCUSDT)  
Kryptochristian  
BINANCE:BTCUSDT   Bitcoin / TetherUS
Trend Analysis Technical Indicators Fundamental Analysis
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trendanalysis indicator fundamental


You know its Sunday when the market behaves like that. Realistically a small correction is heavily needed after this heavy run up so not necessarily a bad thing.

There are a couple of scenarios that can happen but ultimately both bullish long term.

$38.5k and $37.7k could be seen for a heavy bounce back into this triangle of consolidation. Personally I think we will be bouncing in this ascending triangle until the pump above $42.5k comes.

There is a trendline that is in play a stronger than previously thought on the daily that cross the resistance at about $41.2k would potentially be very tough to break.

Still a shortterm bearish scenario in play which can see the CME gap be filled at $33.5k so beware this can go in to consolidation at that level (See 1 hour chart)

Play of the day - bullish. If we hold above $39.5k or bounce back above then targeting to $42k again. I am not risking shorting this week.

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