8.18 BTC Market Analysis and Strategy

The current price of Bitcoin is 117,800. It is currently 1:30 AM Beijing time. The highest point before this report was 118,575. Our entry point yesterday was 118,500, which you can refer to. The upper resistance level has not been broken, and the downward trend is effective. The third wave of downward opportunities is available for re-entry. There is significant resistance above on the daily K-line, and MACD is expanding, causing the DIF and DEA to form a death cross. The K-line is preparing to retest the support of the Bollinger Band's middle track at 117,000, so please pay attention. If it breaks, it will continue to test down to 112,000. The four-hour K-line has already shown a short downtrend, with MACD expansion decreasing, and the DIF and DEA contracting below the 0 axis. The Bollinger Band is also contracting, and the K-line has broken below the middle track of the Bollinger Band. The overall trend has entered a bearish phase, and the short-term strategy is mainly to go short in line with the trend, waiting until it reaches support before considering a potential upward move.

Short-term reference: Small losses and big profits are the goal.

　　Upward target 113,000 to 112,500, with a stop loss at 112,000, stop loss 500 points, target looking at 114,500 to 115,000, break point looking at 115,500 to 116,000.

　　Downward target 118,500 to 119,000, with a stop loss at 119,500, stop loss 500 points, target looking at 117,500 to 117,000, break point looking at 116,500 to 116,000.

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