BTC: Daily Analysis - Trend Confirmation Awaiting (Aug. 23)

Aug 23, 2020

Bearish Case Scenario (More Probable):

1. We are still struggling with major indicators such as the RSI, Volume, MACD (Histogram)
2. We are confirmed below major support level that everyone has been eyeing, including most major Youtubers and Tradingview Authors.
3. We are still continuing a bearish divergence play from the 1D chart.

Bullish Case Scenario (Less Probable):



1. We broke out of a small descending wedge and have retested previous high to low fib resistance level .236.
2. We must retest previous support, BREAK above it.
3. We then must retest the 235 fib level, and,
4. Break back above the major trend line to further continue the trend.

Trade Safe!

X Force

Aug 25, 2020

Note

Trend line readjusted