Analysis $BTC on August 25:
- Daily Chart: BTC dropped sharply from 115xxx to 110xxx in the early morning yesterday. During this period, I called for the team to go short on BTC at 115xxx, but also simultaneously noted that ETH would drop back to the 45xx range following BTC. So, I hit the stop-loss at 40 for the short ETH order and also closed the short BTC order to go to sleep. Therefore, even though there's still a small profit, I completely missed this BTC dump. And today ETH has already returned to 4K5xx 🙂↕️
The daily chart of BTC is still in a downtrend, with no signs of a rebound.
Main support area: 110,000 (psychological level)
Resistance: 113500-115000
- 4-Hour Chart: The new 4-hour candle is also in a downtrend; however, there is upward pressure to the 113-114 range in the next 4-hour candle => BTC will soon rebound.
- Weekly Chart: The weekly candle closed red, just as predicted, with the chart in a downtrend, looking very bad. It could be pulled back to the 10x range.
=> Analysis:
• BTC will still create a deeper bottom this week.
• As for ETH, it often hits the stop-loss before going in the right direction (the team members are the most clear about this), so let's consider it not meant to be. No trades for now. No further analysis either, kkkk.
• Today I am still flat and waiting for a long entry on BTC. It might happen tonight or at the latest tomorrow.
Wishing everyone victory!