Is it really to 67K now?

٢٩ أغسطس

Morning folks,

So, we've got what we wanted - BTC dropped and not only to 61K but slightly lower, to 59.5K. The major question now is whether we indeed will go to 67K or deeper retracement comes?

In fact, riddle is relatively simple. BTC now stands at strong intraday Fib support area. To keep bullish context, it has to go up right from here. In this case 3-Drive "Sell" might be formed, but it starts right from 67K target.

Yes, the big uncertainty exists, as recent drop was relatively fast. But at the same time, risk is not too high as market stands near the possible lows.

IF, still downside drop will happen, it will mean that we get deeper downside retracement.
Current setup is not perfect, but it has some attractive sides. To take part with it or not today is up to you. It has more uncertainty that our usual setups.