8/19 Thoughts:
The daily chart shows that the price of Bitcoin has been continuously declining recently, forming a series of bearish candles, especially the long upper shadow on the 18th indicating heavy selling pressure above. In the 4-hour timeframe, the price faced resistance around 117,000 and has been retreating, currently in a weak oscillating state. The MACD histogram remains negative and is expanding, with the fast and slow lines diverging downward, indicating that bearish momentum is dominant. The daily MACD also shows a death cross, with a bearish trend. However, the suggestion is to focus on rebounds.
Trading Advice:
Buy at 114500-115000, target 116500-117500, stop loss at 114300
For the second target: Buy at 4200-4230, target 4350-4450, stop loss at 4170
(Changes in the market are rapid, for reference only!)
