Quick assessment $BTC on August 6:
- D1 frame: BTC had a sharp drop from 115xxx to 112xxx yesterday. During this period, I advised everyone to exit their positions properly and managed to secure a short position that was quite good.
Today's D candle is still in a downtrend, however, signs of an upward movement have appeared, so I advise everyone to start going Long again in the 113xxx range and have a clear DCA strategy.
Support: 112000-112500
Resistance: 115000 - 116000
- D4 frame: The candle will close in 2 days. As I mentioned in yesterday's post, if this D4 candle does not push BTC back up to the 115-116 range, it will officially fall into a downtrend. This would be very bad as BTC could drop all the way to the 10x range.
- W frame: Still in an uptrend, the chart is still unclear and needs more new information for better analysis.
=> Assessment:
- BTC is very close to a new upward movement, it may drop another short period, so I still prioritize going Long.
- I believe this range is sufficient for BTC to rise again. At the very least, it will increase a few thousand more in this upward phase.
- I will update the detailed plan in the chat.
Wishing everyone success
- D1 frame: BTC had a sharp drop from 115xxx to 112xxx yesterday. During this period, I advised everyone to exit their positions properly and managed to secure a short position that was quite good.
Today's D candle is still in a downtrend, however, signs of an upward movement have appeared, so I advise everyone to start going Long again in the 113xxx range and have a clear DCA strategy.
Support: 112000-112500
Resistance: 115000 - 116000
- D4 frame: The candle will close in 2 days. As I mentioned in yesterday's post, if this D4 candle does not push BTC back up to the 115-116 range, it will officially fall into a downtrend. This would be very bad as BTC could drop all the way to the 10x range.
- W frame: Still in an uptrend, the chart is still unclear and needs more new information for better analysis.
=> Assessment:
- BTC is very close to a new upward movement, it may drop another short period, so I still prioritize going Long.
- I believe this range is sufficient for BTC to rise again. At the very least, it will increase a few thousand more in this upward phase.
- I will update the detailed plan in the chat.
Wishing everyone success
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
113,180
-3.05%
