August 26 BTC Trading Outlook

Yesterday, BTC rebounded to the resistance area of 113600 and then fell all the way down, only finding support after reaching the area of 108500. However, it only managed to create a rebound range of less than 2000, clearly showing the current strong trend of the market.

For BTC to reverse this trend in the short term, it needs to successfully break through the 113600 area to effectively activate buying sentiment. Before that, intraday trades can focus on short-term rebounds.

For intraday trading, one could first enter a position near the 111600 area, targeting a retest of 108500, and if that breaks, look at the two levels of 107200 and 105000.

As long as the 105000 area holds, there is a high probability that a temporary low may form between the 27th and 29th.

Therefore, after reaching the 107200-105000 area, one can establish a swing trading position with take profit levels at TP1: 115000 and TP2: 118500.