Market Analysis for Tuesday, August 26 (BTC):
Bitcoin's early morning low tested strong support at 109,000, the six-month moving average. This level hasn't seen a significant rebound.
The daily chart shows a clear bearish pattern of three Yin-Yang soldiers. This level is likely to see further downward testing of support.
Without the short-term support of a golden needle bottom, long positions are not feasible. Key support below is around 107,000-108,000.
Short at 110,200, target 107,000.
Bitcoin's early morning low tested strong support at 109,000, the six-month moving average. This level hasn't seen a significant rebound.
The daily chart shows a clear bearish pattern of three Yin-Yang soldiers. This level is likely to see further downward testing of support.
Without the short-term support of a golden needle bottom, long positions are not feasible. Key support below is around 107,000-108,000.
Short at 110,200, target 107,000.
