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August 25 BTC intraday analysis
BTC formed a small top model on the weekly chart, but it did not break below half of the weekly bullish candle from July 7, which means that BTC still has bulls supporting the upward trend. The next week can still be looked at for upward movement, unless the daily level effectively breaks below 112000, then it may continue to look for a bottom around 110000! If it doesn't drop, we can see near 120000!
From a small-scale perspective on BTC, the daily chart does not look very good, and the bearish trend is somewhat strong. This may be due to the market cap dominance of BTC causing a volatile bearish phase! However, the 4-hour and 1-hour charts show a strong rebound, so there is still potential for an upward trend within the day!
The resistance levels above BTC are 114600-117500-118500-120000, while the support levels below are 110000-108500! Everyone needs to pay attention to the market capitalization ratio, as it is about to reach a critical position, and there may be a continued rally afterwards!