August 18th $BTC market analysis
BTC broke through yesterday's key support at 63,500.
From the chart, the market on smaller timeframes is strengthening; today you can consider going long on pullbacks.
Support below: 63,620 63,215 62,700
Resistance above is still plentiful: 64,700 65,300 66,400
Today's chart is much better than yesterday at least.
The key is how the 15-minute higher level digests/absorbs this move.
The 15-minute timeframe is a non-bearish (bullish) level, but it's already in a high zone.
A pullback is needed for confirmation; the key supports are: 64,147 63,879
Right now there is support below and pressure above; intraday still follows the range-bound "up-and-down on the lower side" rhythm.
Personally, I'm still holding my spot position and won't change it. I added longs at 62,700 below, but I've already reduced some position size.
Keep the core position unchanged. If there's a pullback today, I'll consider rebuilding the reduced portion depending on how things look.
BTC broke through yesterday's key support at 63,500.
From the chart, the market on smaller timeframes is strengthening; today you can consider going long on pullbacks.
Support below: 63,620 63,215 62,700
Resistance above is still plentiful: 64,700 65,300 66,400
Today's chart is much better than yesterday at least.
The key is how the 15-minute higher level digests/absorbs this move.
The 15-minute timeframe is a non-bearish (bullish) level, but it's already in a high zone.
A pullback is needed for confirmation; the key supports are: 64,147 63,879
Right now there is support below and pressure above; intraday still follows the range-bound "up-and-down on the lower side" rhythm.
Personally, I'm still holding my spot position and won't change it. I added longs at 62,700 below, but I've already reduced some position size.
Keep the core position unchanged. If there's a pullback today, I'll consider rebuilding the reduced portion depending on how things look.