2025-8-15 Bitcoin Analysis:
Yesterday, Bitcoin faked a breakout + the impact of the PPI data directly resulted in a large bearish engulfing candle. Unfortunately, a few days ago I mentioned a bullish outlook for Bitcoin at 1175-1170, but the orders were canceled and I didn't enter the market afterward. It's worth noting that the Bitcoin CME gap has basically been filled, so at this position, it's not advisable to chase short positions on Bitcoin.
Short-term level: From the 1H chart, we can see that Bitcoin, combined with the PPI data, experienced a large bearish candle that broke through the upward trend line and filled the gap, receiving some support for a rebound. After the rebound, whether to continue shorting will depend on two key levels.
The first level is the price of 120600, which, according to the current price, is just near the trend line and is also the point of decline when the PPI data was released. If there is resistance here, then a short position can be taken on the right side, in line with the 2B rule of a decline followed by a rebound and then resistance.
The second level is the Fibonacci level of 0.618, at the price of 121691. This is also considered a point of decline on the chart. These two levels should only be traded on the right side, do not trade on the left side, do not trade on the left side!!!
All views are not investment strategies; trading requires caution, whether long or short, make sure to set your stop loss.
