$BTC Bitcoin Market Analysis 08.03
Yesterday 111888 was really a meal, with an error of only 38u, those who followed me have already had a hot meal.
✅ Today's Market Analysis
First, 116000 is the watershed for Bitcoin; as long as it is below 116000, Bitcoin will not have an upward trend. Based on the above situation, there are several expectations:
▶️ The resistance levels above Bitcoin are 113700-114700-115700, with each 1000 points acting as resistance, and each resistance could trigger a new downward movement. The higher the resistance, the sharper the decline.
1️⃣ First rise to around 115700, encounter resistance, and then start to fall, which will directly break through the daily trend line to reach around 110800.
2️⃣ First enter a consolidation phase, then decide the direction, with a range approximately between 112000-115700.
3️⃣ Directly break up to 116000 to start an upward trend.
⚠️ After reading this article, your clever mind must have come up with several bullish and bearish strategies:
1️⃣ Aggressive traders 114700-115700🈳
2️⃣ Conservative traders 115700-116700🈳
3️⃣ Opening a long position near the lower range around 112000, I don't really recommend this.
4️⃣ Waiting at the lower level of 110800.