August 10th 2021, Crypto Chartbook: Bitcoin, told you so

A future that might hold a place for Bitcoin

BTC-USD, Weekly Chart, Before and after:

Bitcoin in US-Dollar, weekly chart as of August 10th, 2021.

BTC-USD, Weekly Chart, Dos and don’ts:

Bitcoin in US-Dollar, weekly chart as of August 10th, 2021. entries

Entry opportunities:

  • In Zone A, we see two possible retracements. Either from price levels right here at time of publication towards a supply zone measured by fractal volume analysis near US$40,380 or a retracement from US$49,354 to also US$40,380.
  • Zone B provides three entry levels to us. A retracement from US$52,568 to the entry zone near US$49,822 or US$52,568 down to US$45,403 or even US$57,791 down to US$45,403.
  • Zone C would be a reload zone after a successful breakout to new all-time highs with a retracement from somewhere near US$70,000 to either US$63,215 or US$59,130. As mentioned, we are not interested in engaging near the all-time highs

BTC-USD, Daily Chart, Beauty in simplicity:

Bitcoin in US-Dollar, daily chart as of August 10th, 2021.
  • Clean straight legs without chop or high-risk volatility
  • Clear identifiable double bottoms for entry selection (green up arrows)
  • The 40-day and the 200-day simple moving average for targets
  • Clean support levels by either Fibonacci numbers or fractal volume analysis (supply and demand zones)
  • Easy spottable trend development (first, second leg)
  • And as a result, excellent risk/reward-ratios. Most of all, low-risk trade opportunities.

Bitcoin, told you so:

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