BTCUSDT |Overview| What awaits us for the next week

12 авг. 2022 г.

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💡Triangle flat top formation Rising priority.

▫️Bitcoin has tested up the border of the triangle at 4H with low volatility, which means that a strong upward movement should be expected soon. While we received a rebound, now the asset is going for a correction towards $23.600 I wrote about this above.

▫️If the price can fix above the upper border of the pattern ($24.600-25.000), we can expect the first targets for the next week at $27.000-29.000.

Also a few words about the stock market:

📌If the S&P 500 can hold the $4.200 value and consolidate above, then we will see a breakout and the Bitcoin plan will work.

(For those who don't understand (S&P 500 and Bitcoin are correlated assets, asset prices move in relation to each other)

🗯Most importantly, watch your risk management! All the best and have a good day!