Bitcoin primed for a new low.

Aug 26

Last night price rejected off a critical zone (65k) for bulls to retake and flip to support for a continuation up . On the 4h there was bullish pennant that had formed, however we had a false breakout and as we speak price is retesting the pennants lower trendline support around 63.8. If we zoom out to the daily timeframe, we have formed a bearish channel, with a bear flag inside. We still have a death cross on the daily SMA's. Price is likely to test the lower boundary of that channel and test 44k by early September. Plan accordingly.

Happy Trading.

Aug 26

Note

4h Pennant FALSE breakout