Update $BTC on August 4

The BTC bounced back from 111.7 to break the downward range at 114! The price did not return to test 112.8 as I expected but instead went straight up even though all the smaller timeframes were extremely overbought :(

As analyzed from previous posts! 114 is an important price level in the uptrend and downtrend. Just looking at it gives hope for a resurgence.

Next important ranges:

112.6 - 117.1 - Confirming a higher growth trend with the MBoll on the 1D and 3D

112.6 - 115.6 - Correction range and confirming the bottom of the trend.

In summary:

Look for long positions at 113.8 and 112.6