Bitcoin Update Current Price: $84,870
This chart gives an idea of the movement, targets, and key support and resistance levels.
The beginning of a downward trend reversal and the end of the correction will occur if we close above $89,962 for three days.
In this case, the following targets will be activated:
First Target: $93,813
Second Target: $97,669
After reaching these targets, there is a high probability of a correction or a slight decline, with the price retesting $89,962 as a support level. This is an area where a price rebound could occur.
If we close the week above $97,669, we will continue the upward cycle on the daily frame, with the following targets:
First Target: $105,377
Second Target: $113,084
Advice: It's best to raise your caution and start taking profits when we reach $113,084. You should place a stop loss unless we close below $105,377 for three days.
Important Note:
The analysis fails unless the last low, $74,547, is broken, and even if it breaks by $0.50 without a close.
Timeline:
We expect to reach the targets between August 29 and October 2.
