Hello, Community!
While
BTC
had multiple attempts to break through $30k most of traders completely changed their mind to bullish. They supposed that the bull run has been already started. At the same time we are still bearish on Bitcoin. Even if it will not set the new lower low below $15k it should retrace that much.
Let's take a look at the price chart. On the 2D time frame we can notice that current local bullish rally consists of clear impulses and corrections. Impulses are marked with the green, correction with the red color. All these movements are also coincides with the Elliott waves counting. A lot of questions were about the current price action. The decrease which we are observeing right now from $31500 to current price does not look like an impulse to the downside. That's why we assume that another one local impulse above current high is about to happen anyway. $32500 is gonna be the nice target. The further potential price action can so fearfull. We expect the bear market continuation in September.
Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥
While
BTC
had multiple attempts to break through $30k most of traders completely changed their mind to bullish. They supposed that the bull run has been already started. At the same time we are still bearish on Bitcoin. Even if it will not set the new lower low below $15k it should retrace that much. Let's take a look at the price chart. On the 2D time frame we can notice that current local bullish rally consists of clear impulses and corrections. Impulses are marked with the green, correction with the red color. All these movements are also coincides with the Elliott waves counting. A lot of questions were about the current price action. The decrease which we are observeing right now from $31500 to current price does not look like an impulse to the downside. That's why we assume that another one local impulse above current high is about to happen anyway. $32500 is gonna be the nice target. The further potential price action can so fearfull. We expect the bear market continuation in September.
Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥
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Access free SmartTrade terminal and automated AI bot at app.skyrex.io
