Bitcoin analysis 08/08/2023

BTC last week retested Supply Zone 30000 1 again and reversed downward again. The W1 candlestick has closed the bearish candlestick, although the force is not deep (mainly the market is still sideways) but still shows that BTC is still leaning to the downside during this time.

Blackman won’t say much about BTC because the market is so gloomy, there is no volatility and no clear trend to judge. But this week we will trade based on the following 2 bumpers:

+ Case 1: BTC rises to 29500 we will watch sell => The reason H4 timeframe has created 1 Supply Zone in this zone.

+ Case 2: BTC drops to 28000 we will watch buy => The reason this is the Demand Zone of W1 – the hard resistance zone at the moment.

Today, we can rely on the D1 signal to close the bullish candlestick to follow the short-term trend to buy around 29100 with a stop loss at 28800 and a target towards 29400

Command reference:

* Order date:

Buy 29100

SL 28800

TP 29400

* Weekly commands

Sell 29500

SL 30000

TP: 28500

Buy 28000

SL 27400

TP 28600


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