BTC Analysis – 8/19/24

The 4 hour swing is bearish and is currently in the swing pullback phase, which means the market is temporarily moving up before likely continuing its downward trend. I’m keeping a close eye on the 15 minute chart, waiting for it to flip bearish. Once it does, my plan is to target the low of the 4 hour swing, as this could present a solid opportunity to capitalize on the larger trend. The supply zone above is an ideal area to watch for this bearish flip to occur, as it might trigger the move I’m anticipating.

4h Chart