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August 19th BTC intraday analysis:
Currently, the BTC trend is completely backtesting the resistance level of 116700 as we expected, and it cannot break through even on the hourly level! Therefore, this resistance level will continue to effectively block the rise of BTC!
The BTC hourly level formed a top model at 9 o'clock, so continue to look bearish! Continue to test the support level at the key point of 113500! The hourly MACD volume also shows bearish strength, and once a death cross forms, it will test lower positions, specifically 110000-111000! The 4-hour level shows a model similar to last Friday's 8.15 candlestick, which can be referenced for the previous trend!
The resistance above for BTC within the day remains at 116700, while the support level below is at 113500. Today, the main focus is still on the bearish side to see if support can form for a rebound! #BTC