Vladimir Ribakov analyzes GBP/USD and Bitcoin for the week of August 21, 2022. GBP/USD shows bearish momentum with a pending bullish divergence that could trigger a strong upside move once the final low forms. Bitcoin is expected to make a final low below the 61.8% Fibonacci expansion before a massive bullish reaction.
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Hello traders, how are you? Vladimir here from Traders Academy Club and welcome to the weekly Forex forecast. Today we are preparing for the trading week starting on 21st of August, and I hope you still enjoy your summer and you are preparing for the Month of September, very exciting period usually in in the markets as the traders and investors are preparing for the last quarter to come in in the year in the calendar year. So in today's video, I would like to share with you two very interesting opportunities that I find. The first one would be the pound dollar. The second one would be the Bitcoin, and they both are very interesting technically. Both the short term and the long term, and I would like to explain exactly what do I see there, and what would be my anticipation and my trading plan. So let's let's begin then, and the first one would be the pound dollar. And before I go and explain all the technical terms here, I would like to remind you, or if you are new to this channel, first of all, welcome to our family. And please subscribe to the channel with the subscribe button below this video. I would like to remember that we have some very amazing trading tools, and these indicators that you see on my chart, my virtual trading pen which I draw on my screen with, uh, and it was a multi-timeframe ease of control, uh, and saving images and many more amazing features. And this key trading level indicator based on volume profile and many more tools you can download. Many of them are available also for free. So what you have to do is just go below this video in the description, follow the links of the instruments, download them, install, and enjoy. Or go to my blog, uh, they can see it here, vladimiribakov.com. Okay, uh, go to this place, My Strategies and Courses, and In-House Indicators. This is the page. Okay, you can find all the amazing tools we created by far, and there will be many more amazing tools, uh, added constantly here. Uh, you can go learn about them. Many of them are available for free. As I said, you can find the Uh, candles indicators, the key trading levels, the virtual trading pen, the stochastic multi-timeframe stochastic scanner available for free download. So you can download it also directly from here, and I hope you will enjoy them as much as I do. Uh, so, uh, what do we have on the pound dollar, both short-term and long-term? Let's start with the long-term. This is still an ongoing bearish momentum. Okay, undeniable. Uh, the way it behaves right now, it feels like the market will try to complete these cycles, which means try to push as low as possible, ideally below this low, then to complete another new low on the chart and higher lows on the indicator to complete a monster Uh, bullish divergence. From this moment, once this divergence would be completed, for a long term, pound-dollar is very likely to be under bullish pressure. Now let's take it step further to the downside. On the weekly timeframe, also with ongoing bearish trending structure, look what happens here. We are still going down, okay? And very likely to assume we should complete the final low. Look how already the price rides on the lowest Bollinger Band without any pullback. This usually brings a very strong pressure, which eventually, um, when the condition completes, creates a massive price reaction. And that's what I would like to see. We have key low here, and we saw the lows from the monthly chart, the closer we get here, the stronger this pressure on the bullish divergence would be. And once this divergence completes, we should anticipate a very powerful bullish reaction. But until it completes, the pressure is still bearish, and it is going and ongoing despite the fact that, as you can see here, right, the sellers took some sort of a break here. We got one fake low, and then some sort of pullback, another fake low, and another sort of a pullback that lasted for over a month. And now it looks like the market created here a top, rejected these weekly volumes on— as you can see here from the Key Trading Level indicator. And once again, I would like to remind you, go and download them with the links below this video in the description. You will find the links to the indicators. Download, install. You will love them. So the way it looks right now, I would expect the bearish continuation, but there is a very good chance we are going for more. There is ongoing supportive area here connecting the lows, and there is a good chance the market would try to get as low as possible until weekly divergence would complete. The daily divergence would complete, and the reversal signs will build up. And then for the long term. We can expect a bullish reaction. So taking it to the lower time frame, as you can see, for now we are making the lower highs, lower lows. There are no ending conditions nowhere. Indicators are going down, only RSI being in the position of, um, oversold, which very likely would create some slowdown, some pullback. But sell the rallies is the plan here, especially as long as this massive resistance area here would manage to hold. So for me, pound dollar is sell the rallies on the short term. Still bearish. Once it completes the new low, I would expect something massive to the upside. Let me know how do you see the pound dollar. Of course, if you have any questions. Feel free to share and ask below this video in the comment section. I'm there for you, um, to, to help with anything in any way I can. And also, if you find this video useful and helpful, please hit the like button. Your support and your help is very much appreciated, um, and very much needed for the YouTube algorithm to work properly. So this is the pound-dollar, and the next one would be the Bitcoin, as I said before, then like a question, the million-dollar question, are we at the bottom? So personally, I don't think so. I think we should see it completes the final low here, and I want to show you why. If we take a look on the expansion of these 2 legs, look where— look what happened. We crossed below the 61.8 expansion. Retested it, rejected it, and now the 100 is slightly lower. And that's what I really want to see, exactly like with the pound-dollar, same with the Bitcoin. Final push down, the final of the hodlers and the buyers to get rid and lose their belief in all the crypto market, the crypto Currency world, and then boom—a strong reaction to the upside on the next period to come. So that's what I want to see. I believe we should see a final low to be created. There is a massive, massive area here of money—all that and the expansion of the Fibonacci—and the place where these divergence very likely would complete build up. And create some further bullish opportunities. So from my point of view, we should still see another move down, especially if we take a look on the— this chart. Let me just show you. Okay, we've had this trending structure. Okay, we look what happens here. Okay, we got some correction, but we never managed to break this high. Never. Okay, and with that being said, we are now at the end of this corrective movement and the market is attempting to break below. Just zoom a little bit so you can see that clearer. Okay, the market attempts to break below. So I believe that right now, as we create these lower lows, okay, this is what happens with the Bitcoin. There is a technical chance because this structure was made of 3 higher highs, higher lows. There is a technical chance of a final fake attempt towards this area before the move down happens. Uh, sometimes it happens to create like a fake rally before it crashes. So for me, I would be only after the sell opportunities With one of these two scenarios, I explain here: the break below the range, retest and continuation, or a fake rally towards the next key volume zone and move down. So the pound dollar and the Bitcoin are two opportunities I want to share with you this this week. And again, I would like to remind you inside the blog, okay, Vladimir Ribakov dot com. Go to my strategies courses, in-house indicator. You'll find all these amazing tools here. Download them, install them, and enjoy them. As for now, they are for MetaTrader 4. Very soon there will be also MetaTrader 5. We're already working on that testing and preparing everything there. So the two amazing opportunities I found again: pound dollar sell the rallies on the short term. And prepare the buy for the long term once we complete the divergences on the daily, weekly timeframes. I believe something massive would build up there. And the Bitcoin, which also I find very interesting to complete and create some sort of final disappointment from the crypto world, and then bam, some massive money to come in the game and start pushing the prices forward. So that's the 2 opportunities. Let me know what do you think about them in the comment section below. If you have any question, don't hesitate to ask. I wish you a wonderful trading week, uh, and wonderful end of summer. Best to you and yours. Thanks for your time watching this video, and I'll see you soon with more. Bye for now.
