The BTC after breaking its bullish channel from below it stopped on the support at 20.7K to bounce up to 21.9K
To be more likely to continue above, it is better to have a bearish channel of regression which will break from above to confirm the bull flag, or at best to take liquidity lower than 17.6K to mark Spring on the Wyckoff Accumulation.
Before a next acceleration either we will look above 25.2K or continue the decline to the bottom of the range at 19.3K, I think we have more chance to looking for 19.3K to mark the SOW towards a continuation of the down trend and also take dormant liquidity down.
https://www.tradingview.com/x/xCKim9W2/
Next Friday 08/24 at 8 p.m. we will have the most important fed news to follow "Jackson Hole Economic Symposium"
The Fed will talk about bank balance sheets and inflation to try to find a solution to bring it back to its 2% target
Politicians have consistently avoided giving exact numbers on the size of the next rate hike in September.
source: Federal Reserve.
https://tradingeconomics.com/united-states/interest-rate
If the DXY Dollar Index starts to correct strongly given the bearish divergence on Daily, the BTC with the S&P 500 may change from bearish to bullish structure.
As we know the majority tries to anticipate fed meetings for Short or Long if the fed will leave a message for Fomo or Fud.
For the moment we will only have noise, I think that volatility will be high on the S&P 500 and DXY on Friday evening during the Weekly closing, another 2 days of patience and we will see more clearly.
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