August 23 BTC Trading View

With the old Powell's dovish stance, BTC's big bullish candle shoots straight up to the sky, and technicals crumble in the face of news! The downward trend disintegrates in an instant! How should we face the upcoming fluctuations?

BTC's surge tests the daily resistance at the 116700 area, rebounding violently from the bottom by over 5000 points. If the 116700 level is successfully broken and held, we can look towards 118300 here.

For the next operations, we can still consider taking a position at the high level of 116700, while observing 114700 below.

(If 116700 is broken and held, the next position can be chosen to take another position at 118300.)

Currently, it is important to note that if 114700 holds during the pullback, we can confirm that the high-level correction has ended, and we need to change our mindset moving forward, opening positions on the way down!