Daily Market Analysis in the Cryptocurrency Space (8.10)

Summary:

$BTC has currently reached a resistance level, and here short-term positions can be reduced while long-term holdings should continue. The 4-hour chart shows a sustained increase in volume, and after another pullback, the probability of breaking the historical high is very high. The current prediction for this cycle's peak remains at around 126,000, and my personal plan is to clear all positions during the consolidation phase near this price. The topping process takes time, so FOMO (Fear of Missing Out) will persist for a while. Please remember, during the craziest times, do not catch the tail end of the market; otherwise, your outcome will be similar to playing with big A shares. The initial signs of divergence in various weekly indicators have already appeared. The upper resistance for the day is at 11.86, while the support below is at 11.64 and 11.56.