BTC#36 -- 01/10/2021 First minor correction?

Hello Together,

Enclosed, as always, is my daily update on the BTC price.

We have as in thelast analysis (BTC#35) more and more in our Symmetrical Triangle. Here we also broke out this afternoon and the bulls have not yet managed to buy back the sell-off. We also had another perfect retest of our Symmetrical Triangle on the 1h chart. This means that it is a confirmed breakout to the downside according to technical analysis.

What do I expect now:

I believe that it is now quite possible that we fall to around $37,000. That would be the price target after a breakout to the downside. Here we would also hit our support zone (purple) that has been developing since December. This is where I want to see BTC make a significant bounce with a lot of volume to the upside. If we fail to do that, our next support would be our old W Pattern at around $33,000.

We are still in a bull market. I have therefore not shorted the breakout to the downside. Who went short here, congratulations on a very awesome trade! :)

I am now keeping a close eye on the BTC price. We have Sunday and from Monday all exchanges ect are open again. I am curious how the BTC price reacts to this. Many could interpret our blow of top in here and realize profits! Watch out!

Remain vorischtig!

Your Schueco!

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