BTC started the week with aggressive depreciation, testing the psychological level of $115,000. The current low is $114,640.

The closed trade this morning yielded a relatively modest profit of around +50%, details:

- #Binance: short with 30 leverage from the level of $117,482.90, closed at $115,468.20.

- #Bybit: short with 30 leverage from the level of $117,447.20, potential liquidation level at $115,450.00.

- #BingX: short with 125 leverage and additional liquidity from the level of $117,476.30, potential liquidation level at $115,439.2.

The deal itself did not allow for a large movement and rather neutralized the loss of the previous long with a short stop. It was taken on the night from Saturday to Sunday around $117,400 amidst hints of a continued correction, but in fact, the price rose above our entry level to $118,575. In case of a full rebound, we had orders to add to the short position at $119,840 and $121,718. But as can be seen - the scenario has been invalidated.

Today, the decline continued and there are now a number of very important signals from our indicator:

1. Three Strong signal markers of potential lows on the hourly timeframe.

2. Three regular potential low markers on the 2-hour timeframe.

3. One regular marker of potential lows on the 3-hour timeframe.


4. The price has already achieved the targets for declines in downtrends on the 3- and 4-hour timeframes (the extreme was at $114,687).

5. The second target of the steady downtrend on the 6-hour timeframe has been achieved at $115,175. The last target at $113,657 has not yet been achieved. The price has hit the EMA 200 support.

6. AT THE SAME TIME, the price has fallen into a steady downtrend on the 8-hour timeframe, with basic targets of $113,971 and $112,380.

7. On the 12-hour timeframe, the 12-hour candle will close in less than an hour and a half. If the price falls into a downtrend here, it will pose a risk of further decline and even a new low on August 3. By the way, on this same timeframe, it can be seen that the price has now come to retest the breakout trendline from July 14. This provides additional support for a possible rebound.

Right now, locally, based on points 1-3, we are waiting specifically for a rebound. With a currently weak prospect for a full reversal. Considering that the price of #BTC:

- testing the EMA 50 on the daily timeframe as an important support for the bull market,

- after the new ATH, it has shown a decrease of almost 8%, and rather aggressively,

- maintains a steady uptrend on the daily timeframe,

- for now below, but not far from the potential breakdown level of the uptrend on the daily timeframe at $115,638,

- has had an unfulfilled BUY signal from the Hash Ribbons indicator since July 23.

Therefore, for now, we are considering the possibility of starting a long position. Initially, we mentioned that it makes sense to look at entering a long position upon reaching the level of $115,639. BUT for now, this might be a local movement. And again for a small part of our experimental deposit with #futures_trade. It would be optimal for bulls to see a reversal from the current levels and start returning to stable uptrends on the hourly and 2-hour timeframes. Then it could be assumed that the current low of $114,640 was the ideal entry point for entering a long. For now, there is no uptrend even on the 15-minute timeframe. Only on the 5-minute. We will wait for an uptrend on the 15-minute timeframe, reassess the chart, and make a decision.

It is concerning for growth and the approach to a new ATH that everything is the same as before. The potential high markers on the daily timeframe that our indicator provided recently, on August 11-13, and two potential high markers on the weekly timeframe.

Bearish combo, which we can see being played out. There is no marker on the current weekly candle because it is the first in a downward movement. In case of a bullish impulse, the situation could change, resulting in a third high marker from three. But for now, the current picture is something that could break the uptrend on the daily timeframe. Although it rarely breaks on this timeframe.

In this contradictory situation, it is reasonable to work with trades specifically from the extremes, and to reinforce positions (if at all) on additional signals - on new markers from older timeframes or on changes in stable trends. And if there are no additional signals and signs of the end of the trend appear - to take local movements. As we did today.

We are not thinking at all about shorts without a significant rebound.

ps: the picture on important horizontal levels - on a separate screenshot.