Interesting point to consider

14. Aug. 2023

Greetings everybody,

BTC picture remains tricky. Fundamentally, we do not see any reasons for BTC rally and keep untouched OP target that we are discussing in lat two weeks.

Still, since market is forming symmetrical round bottom on 1H chart, it seems it stands now in perfect position for long entry where risk/reward ratio is maximal. It doesn't guarantee success, but, gives chance to get minimal possible loss.

Because if it goes up - it should go right from here. Otherwise it collapses. So, if you have reasons to buy - you could consider current area

For confirmation of bullish changes market has to move above 30.4K level and form bullish reversal swing.