August 18 BTC Operation View

The weekly line is about to close, be careful of false bullish traps!

BTC rebounded to 118,500 under low liquidity over the weekend, and then fell all the way down to 117,200, indicating that the buying pressure has not yet absorbed the selling pressure.

So the next step is still to make a rebound, but the resistance area above needs to be adjusted slightly upward. The high point of Sunday’s rebound at 118,500 has accumulated a lot of liquidity!

Therefore, the next step is to make a rebound in the 118,500-119,200 area, while the lower target remains unchanged, looking for a break at 116,800 and then at 115,600.