BTC Trend Analysis – August 2

4H Timeframe:

• Price is falling and nearing the lower band of the Bollinger Band → Strong selling pressure; the market may continue to decline or move sideways in the short term.

• Bollinger Bands are starting to widen → Increased volatility, a strong trend may emerge.

• Slight increase in volume → Confirms short-term downward momentum.

1D Timeframe:

• Price has broken below the midline of the Bollinger Band and is approaching the lower band → The downtrend is becoming more pronounced.

• Upper and lower bands are beginning to expand → A sign that the downward correction could continue.

• Volume spiked at the end of the session → Selling pressure is dominant.

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📌 Summary:

• Current trend: Short-term downtrend.

• Strategy: Prioritize short-term short positions when price rejects from the mid-band. Be cautious around strong support near 111.5k–111k, where a price reaction is likely.

💡 Coin Watchlist / Trade Ideas:

Given the bearish outlook, consider monitoring these altcoins for short opportunities or strong reactions near support:

• $ETH (Ethereum): Testing key support near $3,100 – may follow $BTC’s move.

• $SOL (Solana): Recently rejected from resistance – showing weakness.

• $PEPE / $DOGE / $SHIB: Meme coins often overreact – potential sharp downside or bounce trades.

• $AVAX / $LINK: Both showing fading momentum – potential short setups on lower timeframes.

Note: Manage risk carefully, especially with low-cap or volatile coins. Wait for confirmation signals (e.g., rejection candles, volume spikes) before entering trades.