Analysis played well for Bitcoin! Check what's coming next!
So, the decreasing volume in BTC Daily Chart, RSI having bearish divergence played REALLY FAST but we have the major support levels marked.
Here is the detailed analysis of BTC I did on August 21, 2021:
![[Detailed Analysis on BTC/USD]: Price Action & My Opinion](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
Also in this chart below:
We can see a broadening wedge type of pattern which is neutral pattern but we see where the wedge breaks out. In this case, wedge has broken down and has done a successful retest too. (Look at the main graph for this)
BTC Daily has closed below the 50 Exponential Moving Average in Daily which indicates that it can have some bearish movement or at least some sideways movement below this level.
Levels are marked, targets of the broadening wedge are marked too and I'm observing if BTC can hold the 200EMA level at around 40-41-42k$, if it breaks these levels, 35-38k$ is the next stop.
Muneeb
Here is the detailed analysis of BTC I did on August 21, 2021:
![[Detailed Analysis on BTC/USD]: Price Action & My Opinion](https://s3.tradingview.com/t/TooVG0iE_big.png)
Also in this chart below:
We can see a broadening wedge type of pattern which is neutral pattern but we see where the wedge breaks out. In this case, wedge has broken down and has done a successful retest too. (Look at the main graph for this)
BTC Daily has closed below the 50 Exponential Moving Average in Daily which indicates that it can have some bearish movement or at least some sideways movement below this level.
Levels are marked, targets of the broadening wedge are marked too and I'm observing if BTC can hold the 200EMA level at around 40-41-42k$, if it breaks these levels, 35-38k$ is the next stop.
Muneeb
