#BTCUPDATE - 16.8.21 POTENTIAL DOUBLE TOP
A continued rejection at $48k could end up pushing price much further down to $43k region - it hangs a lot on what the US reaction will be, this will likely lead to the anticipated ascending triangle pattern I am predicting. If we break through then a continuation in this ascending triangle will be likely.
My play right now is to wait for the US to come online and then react accordingly. If we break above $48k then I think a test of $50k could be on the cards for today. Either way I am expecting a big rejection at $50.1k - $50.7k (careful of the bull trap). Its going to start getting a little volatile is my prediction - $43k is still very much a target for me at some point.
