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The newer chart was opened to test other timeframes, but I happened to notice the 8 Hour chart has no "Long" .
The difference seems to have occurred after the BTC price dropped severely.
For August we may see a few upticks with an overall trend down to test critical support levels at 6800 or lower.
A failure to support at 6800 leads to 6400 - 5800 (again) with a possible range down to 5400 that last week of August, before our next long term uptrend.
Any of this would change with ETF status updates or other coverage that adds interested buyers or ...
The still valid idea of correcting to 7200-7700 and then down to 4400
four weeks UP and then down
Bitcoin now seems to be able to turn around but I do not agree at first to test $ 6000. Then there can be $ 7700 corrections and if the price starts to fail, we are expecting a $ 6,000 return with the fact that if this price does not hold a retest a bear of $ 4400 awaits us
in the following days he should return to 8800 $, but his resistance is in the way and the Ascending wedge slowly rises, this could only continue to resist and then we may experience another BTC fall back to $ 7,000
7200 >6800 $
Reaction price 7200> 6800 $
closing below $ 6800> drop to $ 5900
BTC still in positiv LONG zone , the correction down is only technical correction move . Now is important if BTC will go on UP to be next level broken AND H4 CANDLE CLOSE ABOVE !!! In case the move up will be weak and weak candle close below the level we can count move down will come and the correction will be depeer
Now it depends on support or resistance. One area will be broken. Moving down can only lead to a strong sale, a strong big red candle, we do not expect it. We hold long protections that the downward correction is slow and weak, so far we have no reason to sell.
As we poblished past analysis BTC go UP after smol correction . Now we stil hold BTC . If you thonk about new trade we expect smol correction move it is not for sell but wait and buy BTC lower level . Target 10K USD or more inextension .
Btc has closed strongly weekly candle , by the reason we will open next long lower level . In case you think also about , wait to any turns levels ,
What is condition for to open next long : - Correction move must to be ended , Daily candle must to close above support and shows signal .
We still prefer long lower level ONLY IN CASE COME STRONG MOVE DOWN ANDBOTTOM WILL BE MISSED , WAIT FOR NEXT MOVE up AND SELL OR WAIT FOR UPDATE
BTC has closed near support bottom . It show the optimism is still negative . Now shold come move UP but if candle will not be strong and BIG ( engulf or somethink like this ) BTC will continue down
we can use move up to open sell
Now the situation is not so simple , but we must to wait to move down to supports and signal ,or for closing above rezistence strongly, it will be signal to move higher level .
Break out from consolidation and closing any dirrection will show next move
BTC after stronger movement up, in corrective motion. The two 7000 and 6750 levels could stop this motion down if it is not strong and sharp. In the event that BTC will continue to strengthen it could get out of the negative band. Only closing below 6000 will be a signal for further weakness !!!!!!!
If you are trader on smol TF , there is not reason for LONG now . In case come move UP , and you need to open trade right strategy is sell on higher level . Remember only closing above rezistance could call for next move UP to next rezistance , but still short higher level will be the right strategy .
In case sentiment will change and BTC will want to turn , we ...