BTC Analysis on Monday Evening, August 18

Over the weekend, I gave everyone a warning about the risks, and I promptly withdrew in the early hours, but my overall direction has never wavered. The Federal Reserve is set to meet again this week, so remember to listen to Chairman Powell's speech.

This morning, Bitcoin is declining, and retail investors are becoming more cautious. However, institutional whales are still bottom-fishing, and the main players remain confident. At this time, the shift between greed and fear is crucial, and tonight's rhythm is particularly important. After reaching a new high, nearly 10,000 points down, the 114,300 area has certain support; we should buy more, otherwise, don’t say there won’t be an opportunity for everyone to add to their positions!

Any position above 114,300 should look north first at 117,800 and 119,000. Pay attention to the second red line below (the previous high forming a bottom); if it holds, we can look to add more on a pullback! Regardless of whether interest rates drop in September, the probability of a significant breakdown is low, especially with the support of the knowledgeable king, so feel free to go long!

Sprinters must maintain strong defense. Class dismissed.