Daily Pal BTC Market Weekly Report — 8.11 Chart 1: Weekly Chart 1) On the weekly chart, you can see that last week's weekly candle (K) was actually engulfed by the candle from the week before. So, this week's candle is crucial. If 658 breaks, we’ll continue upward. But if it doesn’t break or closes bearish, then the outlook remains bearish. 2) Currently, there’s an EQL around 623, which is waiting to be taken. 3) Key events: · 8/12 Tuesday: CPI (July) — Will core CPI continue to decline? June’s core CPI already showed signs of cooling. · 8/13 Wednesday: PPI (July) + Initial Jobless Claims Chart 2: Daily Chart 1) On the daily chart, you can see another test of 658, which was rejected. After the weekend’s wick, Monday closed bearish and dropped further. From the daily perspective, the trend here leans bearish. Next, we’re looking at the 63 level. 2) Additionally, there’s idm below waiting to be taken. If 63 doesn’t hold, it’ll continue downward to take idm, testing the 60-59 level. Then we’ll look for new lows. Both 63 and 60-59 are support levels. If they hold, there’s still a high probability of continuing upward. Chart 3: Hourly Chart 1) Hourly range is between 641-653. You can see that after 653 was taken, the price has now broken below 641, and H4 has already shown an MSB. So, the current trend is bearish. 2) The best spot to watch for shorts is around 646 BK, but it’s unclear if there will be a rebound to that level. If the market is weak, rejection at this range-high means further downside. 3) Below, there are idm and fvg waiting to be tested. The key focus is on the H4 bullish OB around 629. If there’s accumulation here, shorts should take profit. Only a break below will signal further downside.