📢 Gate Square Exclusive: #WXTM Creative Contest# Is Now Live!
Celebrate CandyDrop Round 59 featuring MinoTari (WXTM) — compete for a 70,000 WXTM prize pool!
🎯 About MinoTari (WXTM)
Tari is a Rust-based blockchain protocol centered around digital assets.
It empowers creators to build new types of digital experiences and narratives.
With Tari, digitally scarce assets—like collectibles or in-game items—unlock new business opportunities for creators.
🎨 Event Period:
Aug 7, 2025, 09:00 – Aug 12, 2025, 16:00 (UTC)
📌 How to Participate:
Post original content on Gate Square related to WXTM or its
1. Overall Market Analysis of BTC
The price of BTC has dropped today. Looking at the weekly chart, the candlestick has formed an upper shadow, indicating resistance when trying to rise. The key support level on the weekly chart is around 111900, and this price cannot be breached. Furthermore, the KDJ indicator on the weekly chart has formed a death cross and is still adjusting downward, so caution is needed as the price may fall again. The risk of a second pullback cannot be ignored.
Looking at the daily chart, the price previously rebounded to the middle band of the Bollinger Bands, but it couldn't continue to rise and started to fall again. If the price can stabilize near the middle band and oscillate back and forth in this area, there would be hope to push towards the upper band near 116900 later. However, if the price continues to fall and breaks below the middle band, then we need to pay attention to the support level at the lower band of 111900. From the perspective of the daily MACD and KDJ indicators, there is a possibility of recovery, but currently, there is no particularly obvious signal indicating that the price will rise.
In terms of short-term trading, we focus on the 4-hour chart and wait for the right opportunity to act.
2. BTC Short-term Market Analysis
From the 4-hour level, BTC price faced resistance near the middle of the rebound channel yesterday and then fell back. If the price can adjust and oscillate near the middle line in the next period and stabilize, there is still a chance to continue rising towards the upper track of the channel around 116900. However, if it continues to oscillate downward within the channel, it may trigger a new round of correction, at which point we need to pay attention to the support level near the lower track of the descending channel around 111900. If the price can hold at these levels during a pullback, then it may be considered to buy in small batches for short-term operations.