August 16 Weekend Analysis

On a four-hour chart, Bitcoin (BTC) is showing a downward staircase pattern. As the weekend approaches, bullish and bearish volume is converging, with bears dominating. Focus on the 117,900 level, which marked the starting point of yesterday's early morning rebound. After breaking below it, it has become short-term resistance and can be used as a follow-up entry point for short sellers. On an hourly chart, the market is showing a fragmented candlestick pattern, with a clear tug-of-war between bulls and bears, and weak upward momentum. Overall, the current market sentiment is predominantly bearish. We recommend continuing to focus on shorting at high levels, while keeping an eye on key resistance levels.

Trading Suggestions:

Big Cake: Trading around 117,900-118,400, with a target down to 116,100-116,600.

Yita: Trading around 4,460-4,4900, with a target down to 4,360-4,390. $BTC $ETH #美联储取消创新活动监管计划 #美国7月PPI年率高于预期 #币安钱包TGE #加密市场回调 #主流币轮动上涨