Bitcoin Analysis 10/08/2023

BTC once again tested 30000 but still could not penetrate. At the end of the day, the D1 candlestick reversed downwards, closing the candlestick at 29500.

Observing more H4 timeframes, we also see that BTC has created a reversal candlestick cluster with 2 downward reversal pin bars created when testing 30000

The fact that the H4 and D1 frames both give a clear bearish signal + adding a big trend is still bearish=> This test could be BTC’s last

BTC will rebound today around 29900 – the Supply Zone created by the H4 timeframe. Here the market will continue to reverse, pushing BTC to 29500 and 29100, respectively.

Command reference:

Sell 29900

SL 30500

TP1: 29500

TP2: 29100


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