The daily chart of the Bitcoin shows significant resistance above, with a continuous series of amplifying bearish candlesticks recently closing. The bearish strength is consolidating, the downward momentum is accumulating, the downtrend is intensifying, and the market is leaning towards weakness.
Currently, bears are dominant, and following the trend is more prudent. The 4-hour chart shows a clear downtrend, with bearish candles prevailing. The rebound is limited, and the strength of the bears is evident.
Suggested Bitcoin: around 113000-113500, target looking at around 111200.
Auntie Tai: Around 4270-4300, aiming for around 4150.
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8.22 Morning Analysis
The daily chart of the Bitcoin shows significant resistance above, with a continuous series of amplifying bearish candlesticks recently closing. The bearish strength is consolidating, the downward momentum is accumulating, the downtrend is intensifying, and the market is leaning towards weakness.
Currently, bears are dominant, and following the trend is more prudent. The 4-hour chart shows a clear downtrend, with bearish candles prevailing. The rebound is limited, and the strength of the bears is evident.
Suggested Bitcoin: around 113000-113500, target looking at around 111200.
Auntie Tai: Around 4270-4300, aiming for around 4150.