BTC Outlook on August 19
Yesterday at midnight, Bitcoin dropped to around 115,929 and then rebounded, encountering resistance and falling back to around 116,938 in the early morning, maintaining an overall fluctuating pattern.
From the current market perspective, the four-hour level is under pressure at the middle band of the Bollinger Bands, and the bullish rebound momentum has temporarily paused. If this middle band cannot be effectively broken, it will be difficult for the market to reverse the weak trend. On the one-hour level, after the rebound, there are two consecutive bearish candles, the KDJ indicator has formed a death cross at a high position, and the RSI indicator is also turning downward, indicating an increasing bearish strength. Overall, future operations should primarily focus on short positions.
It is recommended to short Bitcoin near the rebound range of 116,800-117,300, with a target looking towards the range of 115,500-114,800.
