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August 21 BTC intraday analysis
Yesterday, I set a short position for BTC at 114600, and it finally came this morning, with a drop of about 700 points until now. Overall, the volatility of BTC is not very large. If it goes down again to find support, it might really go up. We need to change our mindset and not always be bearish!
Today, BTC did not effectively stay above 114600. Although it broke the trend line, we can only say it was a false breakout. Since the breakout failed, it may go back to 110000 for support or form a double bottom near 112380. These two levels need to be monitored! The upper resistance remains at 114600, and only by effectively staying above this level can a reversal occur!
Support levels below BTC are 112600-110000-108500. Resistance levels above are 114600-116000-118500. If it does not hold above 114600, I remain bearish, or rather, a 4-hour bottom appears near 110000! #BTC