$BTC

Update 19-08-2024
I am not bullish or Bearish
I am neutral in the market

All I can see for now is that the market breaks my trendline it may retest the said trendline but if ever bears fails to break lower support and trendline this market structure for me is bullish.

On the other hand, Breaking the initial support will indicate that its bull is taking a short pause.

While breaking the 56k support will increase the chance to revisit below at 53285 - 51748

For bulls, we need to break the 62809 price level and maintain the price trading above it to indicate a bullish momentum. The price targets above are displayed in the photo kindly view it for your guide

Keep an eye on the support level at 56k and the said trendline for risk management

again you already have your cutting price so there's no reason for you to not take some action if the price drops drastically beyond our support level.

Disclaimer: Not financial advice