Analysis $BTC on August 18:

- Daily Chart: BTC yesterday continued to swing around the 117-118 range and quickly dropped to around 115000. The chart in the downtrend looks quite bad. Currently, the chart is still around the support level of 115000, with the lower level being 112000. Main resistance: 116500-117000

- 4-Hour Chart: has entered a downtrend, the chart is being pulled quickly to the 112-113 range. Please pay attention to this area.

- Weekly Chart: Signs of a peak have appeared. There is a high possibility that 1245xx has been the ATH of this uptrend, soon BTC will enter a new accumulation range for a quite long time. I think about 2-3 months. Then BTC will have a new uptrend.

=> Conclusion:

- BTC has a very high possibility of transitioning to a downtrend in the medium term. This means it will enter a new accumulation range in about 2-3 months with 124k as the peak, and the bottom could be around the 10x range.

- Last week after a Long position at the beginning of the week that gained 4000, I consecutively lost 3 Long positions due to incorrect analysis. The 2 short positions on ETH and BTC at the end of the week were very good because I anticipated early the downtrend of BTC, but due to entering too early, I was continuously stopped out at break-even or lost a few hundred, so it was completely ineffective.

- This morning I also anticipated early for everyone about this downtrend and gained temporarily 2000. I also called to catch an early move around 115000 because I still see a fairly strong rebound force of BTC in the next 2 days. But the main trend of BTC in the coming time is still down, so everyone should be cautious.

- Why is BTC dropping while institutions are aggressively accumulating? There are many reasons, but I think mainly it is profit-taking. And BTC also needs a 20-30% drop from the peak to establish a sustainable uptrend for future ATHs.

I will update the plan in detail in the telegram. Good luck everyone!