BTC 4-Hour Analysis 25.08.22

Current Price 112850 @williamyuan

Market Analysis:

Pullback into strong support level,

if broken, a downtrend will be established.

Technical Analysis:

In the larger timeframe, a potential cup and handle pattern is suspected,

if the pattern completes, there will be significant upward potential.

Pattern Characteristics:

The characteristic of this pattern is high-level wide fluctuations

with continuous new highs and new lows,

ultimately breaking out and rising sharply.

This is a bullish signal.

Market Projection:

If in the coming week, it holds above the support level of 111850,

there is potential for new highs.

Key Levels:

Support Level: 111800, if broken, there will be a deep pullback.

Resistance Level: 123000, if broken, it will rise significantly to around 130000.

Current MACD shows a golden cross with a bullish signal on the four-hour chart.