8.22 Afternoon BTC Analysis

From the daily chart, Bitcoin's performance yesterday met expectations. Although it rebounded after breaking below the 11.2 support level, the short-term rebound momentum is insufficient. The daily low is continuously moving down, indicating that the short-term bearish trend has not yet ended. The current rebound can be judged as a pullback in a downtrend.

Key short-term resistance levels to watch are 11.48, while the focus on the hourly level is on 11.34. If the price cannot stabilize above these resistance levels, it will be difficult for bulls to build effective momentum. Recently, the price has frequently tested the key support level around 11.2, and it is expected that it will likely break below this level.

Big Brother's Trading Suggestions:

You can place short positions at the 11.34 level, add to short positions when it rebounds to around 11.4, aiming for a target at 11.2. If this level is broken, reduce positions and continue holding, looking down to 11.06;

Near 11.05 below, you can try going long with a small stop loss, targeting a rebound space of 1000-2000 points. #币圈 $BTC