Bitcoin Technical Analysis - Thursday, August 26

By Peter Mathers of TradingLounge.com

Elliott Wave Analyst - tradinglounge • Aug 26, 2021 at 7:42 AM EDT

Upside target is 51,100 the 61.8% retracement level as the resistance.

(Video length 00:04:39)

Crypto Bitcoin BTCUSD Technical Analysis Elliott Wave Forecast

Bitcoin Overview: Bitcoin can now have a top in place and we now also have the first Impulse wave lower, a breach of 46,500 would confirm this.
Technical Analysis Bitcoin: Upside target is 51,100 the 61.8% retracement level as the resistance.
Bitcoin Elliott Wave: Wave (i) or (a) downwards
Trading Levels Bitcoin: 50,000 Major Trading Level with Minor Group 1 53K and Group2 below 48000|4772|46500 as support
Bitcoin Trading Strategy: Short

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