BTC fell into case 1 (In Blackmantrader’s Week 3-August analysis). Currently, BTC has closed the Month Engulfing candlestick markedly bearish in line with the trend.
- Medium-Term, Long-Term: The BTC downtrend is very pronounced without further discussion. Blackman maintains the old view that BTC will soon reach 24300 and beyond to 21500 (which will arrive in the last quarter of this year). Therefore, holders should not buy any coins at this time, especially Low cap because the probability of being purged is very high, which can completely lose all the invested capital.
- Short-term: The market may only fall as deep as 25000. Then there will be a short-term reversal signal to help BTC bounce back, there will be a rebound to test around 27000 1 again (Maybe as soon as this week). Here the Bears will launch a sortie, pushing the army to overwhelm the Bulls to 24300 in the near future.
Command reference:
Sell 27000
SL 28000
TP1: 26000
TP2: 25000
Buy 24300
SL 23500
TP1: 25000
TP2: 25500
