BTC.D, BTC/USD, Technical Outlook, Edition #86 (23/08/21)
Qluster analysts called it last night 🎯 Bitcoin waltzes to USD 50K after a successful bullish break to the upside! Read the latest expert forecasts and discover what's next for the mighty BTC...
Bulls dance to the upside after a successful bullish break
Bitcoin hits USD 50K elegantly following a bullish break in the flag discussed during last nights live trading session.
Bitcoin, BTC/USD - 4 Hour (H4)
USD 50K is bound to pose some ‘psychological resistance’ on speculators.
However, what matters to the technician is how the BTC/USD trading pair behaves when it touches the .618 fib retracement zone that persists around USD 51K.
Bitcoin, BTC/USD - Daily (D1)
As mentioned in previous reports, the ‘golden ratio’ is known as a messy pivot zone in financial markets and can potentially trigger some nasty volatility.
Qluster analysts covered a breakdown of the .618 - the ‘golden ratio’ - in the premium daily analysis below:
Keep an eye on Bitcoin Dominance, BTC.D, to see if altcoins will sell-off should BTC/USD volatility increase around USD 51K .618 fib level.
BTC.D rises with BTC/USD, while altcoins suffer.
BTC.D falls as BTC/USD consolidates and altcoins bounce/rally.
Further, all four VIP trade ideas published this month to premium subscribers are in profit now.
Consider tightening up stop-losses by moving them into breakeven or profit - on the chance BTC/USD nukes around USD 51K.
See you again for the next update. - q
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