Bitcoin Pulls Back, But Long-Term Outlook Remains Bullish

Aaron Dishner, co-founder and lead instructor at The Better Traders, Inc., analyzed Bitcoin's performance in his August 25 analysis. He separated short-term and long-term timeframes for Bitcoin, expecting a pullback in the daily chart but maintaining a bullish outlook on weekly and macro levels.

Dishner sees a daily bearish divergence with higher highs in price against lower highs in the RSI, suggesting a pullback to the daily TBO Fast line is likely. However, he advises waiting for a reversal confirmation before shorting, as the OBV remains bullish and the white MA line is rising.

In terms of Ethereum, Dishner expects a strong pullback to the weekly Fast line around $2,000, which he would treat as a buying opportunity. He believes that it's time to start building positions and using DCA bots to accumulate, despite the possibility of a major pullback in altcoins.