VIP Trade Ideas, BTC/USD, Technical Outlook, Edition #85 (21/08/21)

Did you see Bitcoin's power surge? Gain the latest expert insights and price action forecasts in today's market analysis 💡

Bitcoin boasts significant upside gains, what’s next for exuberant Bulls?

Bitcoin surges to USD 49.3K following a successful 'resistance to support' flip of the 0.5 fib retracement level at USD 46.8K. 

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Bitcoin, BTC/USD - Daily (D1)

The next major resistance zone for the BTC/USD trading pair is the .618 fib retracement level at USD 51K.

Watch out for a plausible run to USD 55K should buyers succeed in dictating the price reaction at the 'golden ratio'.

Need a refresher on the Golden Ratio? Read our detailed breakdown in Technical Outlook, Edition #79 (14/08/21)

Bitcoin, BTC/USD - 4 Hour (H4)

Qluster analysts plot the most immediate local support zones using the above H4 BTC/USD chart, starting with the 0.5 fib retracement level at USD 47K. 

Monitor the forecasted bullish re-test for a surprise weekend pullback due to low Bitcoin exchange trading volume. Should a re-test occur, volume is requisite to absorb a downside retreat from breaking lower. 

Further, Bitcoin Dominance continues playing out as expected, and many bullish altcoin setups have resumed their upside rallies. 

Bitcoin Dominance, BTC.D - Daily (D1)

TradingView Chart


Q's Conclusion

Before signing off this week of market hyperactivity, the Qluster Research team has decided on a special live session to conclude this trading week's analysis.

Our analysts will host another VIP trading seminar tomorrow - Sunday, at 5 PM AEST. Join us for a top-down approach to analysis and upgrade to a premium subscription now to receive your private invitation. 

Teaser - Qluster Research analysts will evaluate VIP Trade Ideas published earlier and review technical forecasts in real-time! See the charts below for a sneak peek...

Qluster VIP Trading Idea 1 - Litecoin, LTC/USD 

Qluster Research
Qluster VIP - Technical Trade Idea, Edition #1 (11/08/2021)
Big cap altcoins have been performing considerably well over the last few weeks, and many have been moving at their own pace. Today the Qluster team looks to Litecoin and see if it’s ready to wake up from its slumber on the micro-scale. The following Litecoin /BTC and /USD pairs have been charted below – as in most crypto bull markets, let the /BTC pa……
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Qluster VIP Trading Idea 2 - Litentry, LIT/USD 

Qluster Research
Qluster VIP - Technical Trade Idea, Edition #2 (12/08/2021)
As the team mentioned yesterday, some lead (ETH) while others lag (LTC) Opportunities to trade smaller-cap altcoins with superior looking set-ups increase, in line with the market's risk appetite. How do analysts at Qluster Research look for primed /USD pairs…
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Qluster VIP Trading Idea 3 - The Graph, GRT/USD 

Qluster Research
Qluster VIP - Technical Trade Idea, Edition #3 (14/08/2021)
Short on time? No worries, Qluster analysts have done the heavy lifting for you The Qluster Research team has spent this weekend working through small-cap altcoin set-ups. Qluster analysts define market capitalisation:Small-cap have a market cap of less than USD 1 Billion…
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Qluster VIP Trading Idea 4 - Filecoin, FIL/USD

Qluster Research
Qluster VIP - Technical Trade Idea, Edition #4 (17/08/2021)
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See you again for the next update.

- q

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