BTC- Update August, 11 2022 (No financial advise)

Good morning, Bitcoin went up over night and is currently trying breaking the resistance box on a 4h timeframe. On of the reasons is the release and decrease of the inflation rate in the US (June:9.1 -> July 8.5).

As you can see on the picture we got rejected on around 24680. I personally think we will getting back down again to around 24k. After it maybe starting another breakthrough if there is enough volume in the market.

On the other hand the RSI on 4h still has some space to go up (everything above 50-70 on RSI is bullish). So its currently an exiting situation. In case we break through there will be probably a confirmation at the box again before going up to our next target around 25700.

For me its looks like we forming currently an Ascending Triangle. Therefore both directions are possible and we should wait for the next market movements. Four our friend who are using the Munich-Ai, I personally trading on a Buyscore around 95. Its currently providing me enough trades during the day, but makes sure I am on safer side as I am a quite defensive less aggressive trader.


Please let me know your thought about this current market situation.







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