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VIEW BTC 8/12: BTC PREDICTION FOR NEXT WEEK
Hidden support at the price range of 97320
- First, congratulations to everyone who managed to profit from the trade I suggested yesterday; the current price is quite volatile, so you can take profits or set a positive stop-loss and let it ride. Here's the link to the article; don't complain later when I don't have time :)) BTC TRADE 7/12 (there's a call for the trade, guidance on taking profits).
- Today is Sunday, so BTC isn’t experiencing much volatility. In the H4 timeframe, BTC is currently forming lower highs, and it seems that after a period of stagnation, BTC is preparing for a conclusion; it's expected that next week, BTC will begin to trend into a correction.
There are 3 key levels we need to pay attention to: 1 is the hidden support at 97320; if the H4 BTC candle is red, with a long body and short wicks closing below 97320, the price will drop below the 89-90 range. Similarly, the next solid support zone is 78-82 (fibo 0.618; it's troublesome for me to guess). Whether it drops further or not will only be known when we see how the price moves.
Currently, the prices of altcoin/BTC pairs are steadily decreasing, so it's best to wait or trade long/short for a profit and then take it; don’t be greedy for a long wave.