Analysis $BTC 16/08/2024

#BTC, we're starting to get good here again, see that we managed to maintain the level where I said yesterday that we expected some reaction (at the blue line). We jumped from there and are now trying to climb above USD 60K again, which is clearly the best scenario for the BULLS, since it is likely that we will succeed in breaking through this time.

One thing I would like to mention here is that even with the strong selling pressure in the last few days, the price refuses to fall below USD 57K, and we are currently working within an 8% channel, of course we made lower and lower lows, however...still the price today is trying to break it.

It has been relatively easy for the BEARS to play here, since they have been winning several games in a row at key points, but I am starting to think that it is time for the game to turn around.

We all know that it's never easy to win so many times in a row, so I believe that we will have a jump to USD 70K and the vast majority of these BEARS will be taken out of the game and some will be stuck in their positions.

We know that there has to be a big move here, and it can't take much longer, not at this point.

The vast majority point down, but honestly I don't think so, and so I will remain OPTIMISTIC at this point, and still think that USD 49K was the bottom here and now the next big point to attack is USD 70K/73K, even if we have some pullbacks before we get there!

Large buy orders are already starting to appear again at USD 56K, but here the spot buyers are the ones who are leading and that's what we need. Of course, we also need no one to have any bad news to give us today LOL.

Large SELL orders are venturing into USD 61K, but we know from their size that these are not real and should be withdrawn as soon as we work on USD 60K, and will clearly rise to $65K.

I am OBSTIMISTIC!

Send this to $70K!