Market Update

Bitcoin has now flipped the Previous Week High ($26.5k) from resistance to support. The liquidity at $26.8k has now been taken, and we rejected from this level as we have a few times since the breakdown on 17th August. Ignoring the 2 day deviation at the end of August, we are trading at the range highs and need to flip $27k where we could see another impulsive move up.

On the right side of the image, I have added the BTC chart with the EMA8. Look how this has been so well respected over the past week. Almost every 4 hour candle has tested this as either resistance of support. If we get a 4 hour close below, this could start a bigger move down. Needs to hold for continuation.