Is BTCUSD low at 28477 going to hold and become a W bottom(3)

٢٣ أغسطس ٢٠٢٣

This is in reference to our previous ideas of looking at a potential entry on 4h and daily timeframe to capture a weekly Phase 1 turning point. The rationale is based on our smart money framework and indicator.

The last weekly potential bottom has not held and price is going further down.
Lets wait and see if this week's bottom holds. Our first point of consideration is when the 4h or the daily bottom confirms by the SMI backed by VSA. The critical level to observe is 24756 as in the chart image. if that is broken,trend changes and it will be a downtrend.

Refn images and links from our previous ideas are as below.