Bitcoin bearish scenario for the week

Aug 27

I made this analysis yesterday. In this case, we also expect a move closer to 62k, so based on this analysis, we have time to analyze until Tuesday to decide which way to go. The bears case explains the price action as the following. We broke out of last week’s consolidation with a manipulative move over the weekend/late Friday, so we trapped the longs by let the believing in higher prices by hold the price at the 64K level. The EMA will not hold in this case and we go back to the lows of August 6 at around $51,000.

Aug 30

Note

So far I nailed this one pretty accurate.