BTC Update [8-20-21] - BULLISH - Approaching Decision Area

20 Ağu 2021

Bitcoin is approaching this DECISION AREA [51,000 - 57,000].
THREE possible scenarios when it reaches this area...
(1) It shoots right through this range and takes off like a rocket ship.
(2) It immediately rejects in this area and we get a correction back towards either the trend line or the Moving Averages. If this happened, it would likely just be a dip before the next leg up to new Highs.
(3) It stalls here for a while, then 1 or 2 plays out. I don't believe there should be much trouble making it up to this area. Just want to see what happens once it reaches it. Will be watching like a hawk and will update as things unfold.

25 Ağu 2021

Not

Looks like it's hitting the lower trend line. Possible move back UP from here.

26 Ağu 2021

Not

After barely reaching the Decision Area, it looks like Scenario 2 is playing out. If it's a real strong correction, I can see it coming all the way back to the 38,000 - 42,000 area before continuing up again.

However, if BTC retains it's strength that has gotten it to this point, then 45,000 - 47,500 is the lowest I see it coming down to before continuing back up. Will be watching...