BTCUSD: SELL 110000, SL 113500, TP 100000. | 29 August 2025
29 August 2025, BTCUSD
The downward movement in Bitcoin price closely resembles the formation of a divergent leading diagonal pattern. This pattern may already be complete, with the current price rise representing corrective wave [ii]. In the near term, we may still see further upward movement within this correction, after which the price decline is expected to resume.
This suggests the beginning of wave [iii] formation, which is anticipated to be quite extended and powerful, making it advisable to prepare for active selling.
Short positions are recommended to be opened upon breaking the intermediate level at 110000. Price movement through this level would invalidate the current emerging upward structure.
Investment idea: SELL 110000, SL 113500, TP 100000.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
