BTC 24 August 2020

SUMMARY:

For the third consecutive week, we have seen BTC fluctuate but ultimately close with a small candle body. As it currently stands, this candle is going to be the first red body (down) close in 5 weeks. When we zoom out and see the historical resistance; it makes sense that we are seeing uncertain dojis right now.

Although there is downside risk here; this is an overwhelming bullish chart and therefore pullbacks should be accumulated rather than sold off.

SHORT TERM OUTLOOK

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MACRO OUTLOOK

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