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8.19 Morning Bitcoin Strategy Analysis
There’s no need to elaborate on yesterday's market situation here. To put it simply, Bitcoin reached a space of 1986 points. No need to say more about the rest, just follow along and enjoy the gains!
In the four-hour chart, the price has pulled back and closed lower after a short-term high, indicating that such a trend is clearly not strong and instead shows characteristics of range oscillation. The bulls and bears will continue to struggle this week.
Observing the 4-hour cycle chart, we find that the Bitcoin price has repeatedly attempted to break the highs but ultimately retreated, even briefly falling below the support level formed by previous highs. Fortunately, the price subsequently stabilized at a higher level. Currently, if the key support level can be maintained, there is still a possibility for the bullish trend to continue; however, if the key level fails to hold, the market is likely to experience a pullback.
BTC recommendation: 116800-117300🈳 Target 114000
ETH recommendation: 4380-4420🈳 Target 4200
You need to go with the flow, always stay rational, defend well, and never blindly resist! Wishing you all the best, seize every opportunity, we will continue to move forward together!
scouting life.