Today's Cryptocurrency Market Analysis (8.8)

Summary:

$BTC suggested yesterday that if it touches 11.57 again, it will definitely break, and also mentioned that the resistance level of 11.72 is temporarily holding back. Starting from 11.2, it was suggested that the pink daily line may have ended. Now, a 4-hour move has formed an upper track of the range, confirming that 12.33-11.18 is a complete downward move on the daily line. The structure that has emerged from 11.18 is a new upward move on the daily line, and currently, the internal 4-hour up and down structure is complete, accompanied by gradually increasing trading volume, which cannot be underestimated. It is clear that this 4-hour move will continue, with the target being the harmonic pattern position of 12.1 mentioned yesterday at 1.13. The short position made at 11.72 yesterday should be handled accordingly. The intraday resistance is at 11.74 and 11.86, with support at 11.56 and 11.45.