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Market Update - August 29 2022

August 29, 2022

The 🐻 went all out last Friday, daily downtrend confirmed, waiting for hourly confirmatoin

Last Friday the bears went on an all out dump on the market, we still need an hourly trend but the size of the pull back with the volume says the story for now, if we change the hourly from here we might still look for a weekly trend change IMO, but the setup now is an hourly bear flag so further downside is still possible and that make a weekly trend change less likely.

BTC broke the 4 hour trend but it needs a trend change to confirm that the daily bounce is in, once we do that we start looking if we can make a daily HL, seeing up the weekly trend change.

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