August 17th: The causes and prospects of global financial turmoil, where will Bitcoin go in the future?

BTC/Daily Chart

At the daily level of Bitcoin, yesterday's K-line closed negative again, and the price once broke through the lower track key support of 59500. Combined with the technical level, the daily level has already entered the short risk area, but the currency price has not seen a decent correction. It seems that the shorts want to enter the next round of decline, and the subsequent bulls will continue to extend the cycle, which is far beyond the cognition of everyone in the market. However, once this kind of decline occurs violently, it will be difficult to get out if you have short orders in your hands. So in my opinion, you still need to continue to choose to enter the market at a low level and keep the bullish outlook unchanged.

BTC/4h chart

Bitcoin 4h level, the price was under pressure at 59800 in the early morning yesterday and fell sharply to 56000, then stabilized near 56000 and pulled up again to near 59800 resistance. At this time, there are some small intraday double top resistances above 59800, which is also the Fibonacci split point. The subsequent focus will be on the resistance level as a backup. As shown in the figure, at the 4-hour level, referring to the previous round of trends, there may be some similarities. Then there is a probability of touching 57500 today, a small rebound, and then touching the high point of 59800 and turning down again. Based on this, various signs indicate that the currency price may have a short-term rise and adjustment. In addition, the key support is around 57500. If it is touched, you can choose to buy, and the resistance is 59800.

Strategy 1: It is recommended to buy in batches at 57800~57300, stop loss at 56600, and the target is around 59500~59800~60400

The above is personal advice for reference only. Investment is risky and trading should be cautious$BTC $ETH $BNB