Looking at the weekly TF, we are expecting BTCUSD to reach $29257.20 before we look for bearish scenarios. Its important we remember that the weekly timeframe takes more time to reach target price because each candle takes a week to complete, so you can refer to this as a long-term outlook.
Target on the daily TF is $25424.30, we will also look for bearish scenarios at that price.
At $23410.33 we will be looking for a breakout to $25424.30.
Chart Update August 6th
Price rallied and broke through our previous buy zones but respected area of support from the monthly support at 22607.71.
Thanks.
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