BTC analysis week 3- August 2023

BTC finally broke out of the sideway zone and collapsed deep into the Demand Zone 25000, where Blackman stated in previous posts about Retest. Although this week’s W1 candlestick is not complete, Blackman is still inclined to the probability of closing a strong bearish Engulfing candlestick.

From Blackman’s perspective on BTC, BTC will have 2 cases:

+ TH1: BTC will rebound around 27000, then continue to reverse down to 24300 in the near future. Ends month around 25000

+ TH2: BTC will sideway around 26000 and continue to fall deeply to 24300. Here the market will reverse temporarily (the highest is up to 27000). BTC will sidewy at the remaining days and End Month around 25000

Whatever the case, BTC will soon return to the 24300 zone in Blackman’s view. There is more probability, Blackman will announce when BTC completes this week’s W1 candlestick.

In the long term: Blackman still maintains that BTC will return to 21000 in the near future. Therefore, it is best not to invest in any coin during this time. Especially small-cap coins because the market will soon purge 1 again.

Blackmantrader hopes the above sharing will help you on your way to Coin investment. Wish you safe and profitable investment


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