Daily Market Analysis - BTC 08/13

I've been slacking off for several days recently, and today I happened to wake up early, so I’ll write a market overview before going out to have fun.

From the weekly to the monthly trend, the price has shown a rare cycle of five consecutive months of increase; these two major levels of movement can only tell us that when the market is in a bullish trend, there is temporarily no systemic risk, but during the rise, the divergence rate is likely to increase, which is not conducive to the sustainability of the rally and maintaining overly high expectations.

From the 12-hour to the daily trend, since the 10th, the price has shown a local increase, but it has only returned to the previous fluctuation, suddenly breaking out a new structure. Therefore, at these two levels, a new structure that can directly rise has already appeared, but a safe initiation method still needs to wait for a pullback.

Looking at the trend from 1H to 4H, it has returned to the idea referenced during the live broadcast on the evening of the 11th. After the rapid rise in price on the 11th, it has entered a horizontal consolidation, forming a new pattern of suppression that limits subsequent high rises. Similarly, due to the rise over the past week, a bullish arrangement has appeared in the short-term structure, making it difficult for the price to experience a runaway type of decline. Therefore, the current BTC is challenging to trade for both upward and downward movements. Summary: The large-scale bullish trend has always been present, and a cautious view should be taken regarding the overall height of the rise. However, do not blindly open short positions just because of a rise in price. From an individual level perspective, the current running range of the price is limited to the previous lows and highs generated at the 1H level. Prediction: Enter at the current price 119118~118830, stop loss at 118150 (1H entity), take profit when it looks good. The overall position size is not large, and those who have a closed position can refrain from trading. Data reference 121040~121730, short-term support at 116944~115648, second support at 113377~111288 (can be placed), short-term support at 121564~122283 (do not trade breakouts; only look for low longs near the MA30 on the 1H after a pullback).