The events of the last two days are developing very rapidly! It is no accident that they say: “There is only one step from euphoria to panic.”
Formally, they dropped out of the range that remained relevant throughout August. The main question now is: “False breakdown downward or not”?
To answer this question, it is necessary to wait until the close of today and tomorrow, since that is why it is a false breakout, which is bought out immediately. This happened on August 17-18, only then the price grew, and at the moment it was above the upper border of the flat.
From the point of view of a counter-trend approach, we can consider the range of $ 10,070 – $ 10,560 for buying bitcoin, as an option, divide the planned volume into 2-3 parts. This range previously served as a strong resistance, in the current situation it may become an actual support!
The targets at the top for today are not so optimistic, the next levels are $ 11,100 – $ 11,280, there it is already necessary to look in more detail, whether sales will resume or not.
Also, do not forget to look at the US dollar index (DXY), the correlation with which can be traced quite obvious, for this index the Rubicon is 94 points – everything above means a negative scenario for bitcoin
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