#BTCUPDATE - 17.8.21 ASCENDING TRIANGLE OR DUMP?

A strong wake up from the US has seen a push back into this ascending triangle. Whilst it looks positive right now I am still not fully sold that we aren't going to test some lower regions - again I still think $43k is a target here.

Holding above $46.6k will be a start - although still another trendline to break that is struggling to break.

We will meet $48k with resistance no doubt and a break through will highly likely see a huge rejection at $50k region maybe a little higher. As mentioned yesterday we are going to see some serious volatility over the coming couple of weeks.

My play is a break below $45.7k then short to $43k, holding above $46.6k then long to $48k with a 2nd target of $50k.

This is all subject to news drops - I have a "feeling" based on news cycles recently that some very very big BTC FOMO is about to drop. Tin foil hat theory!