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 💡
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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.
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)
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 VIP Trading Idea 2 - Litentry, LIT/USD
Qluster VIP Trading Idea 3 - The Graph, GRT/USD
Qluster VIP Trading Idea 4 - Filecoin, FIL/USD
See you again for the next update. - q
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Awesome article! Have subscribed 👍