The BTC rate shows local growth, which was written about in the daily review on July 30. Let us remind you:
“... Locally, we allow a more noticeable rebound by the evening/end of today, but if it does not consolidate above $67,400 and consolidate above the downward trend with ATH on March 14, the continuation of the downward movement is in force. And the first goal, as written, is the EMA of the 50 day TF (currently $64,325)...”
The trend reversal indicator on the four-hour timeframe#BTCshows a long signal. But without a return above EMA 50 of the four-hour TF (currently $66,872) this is not even a chance to cancel the downward trend.
By waves - correctional wave A is in the process of formation. We expect that its loy has not yet been delivered. And we are waiting for this decline to test the EMA of the 50 day TF (currently $64,304). For this scenario, you need to re-break the volume level of $65,892.
