Crypto Circle Academician: What will be the fate of Bitcoin in August 8.1, will it break the top or crash? Latest market analysis and trading suggestions with strategy for recovery
Bitcoin current price 117700, it is now 3 AM Beijing time, 119800 saw profit-taking yesterday at 116000, and northward also closed near 118000, how much did the traders catch? Specific practical details have been updated, and everyone can consult me. There are less than five hours left before the monthly line closes, and the monthly line has already seen four consecutive gains. How will August go, will it continue to break historical highs or retrace into a bearish trend? For us contract traders, it is worth looking forward to.
Before publishing, the daily K-line highest was 118920, lowest was 117800, the EMA trend indicator has begun to contract, the top resistance level has dropped below 120000, and the support level has also moved up to the EMA30 trend support at 115500. The MACD has been continuously shrinking in volume, and the bears continue to exert force. The DIF and DEA are also accelerating downwards, but the market still belongs to a high-level horizontal range that has not come down, forming a top divergence trend. The Bollinger Bands are contracting and horizontal, with the upper band focusing on 119900 and the lower band focusing on 116600. The current price is near 118000, and once it breaks 119000, you can attempt a southward position.
The four-hour K-line focuses on the EMA trend indicator with short-term support at 116800, the MACD is moving back and forth near the 0 axis, the Bollinger Bands are horizontal with the upper band at 119000 and the lower band at 117000. The short-term box oscillation space has reached within 2000 points. Those who like to do short-term trading can catch a bit, and for trend trades, wait for a chance to short at high levels; it’s okay to observe for now.
Short-term strategy reference: The market is never 100% certain, so always set stop-losses; safety is paramount. The goal is to minimize losses while maximizing profits. Especially when breaking key resistance and support levels, it’s crucial to stop-loss rather than hold on.
Northward trial position at 116500 to 115500, with a defense at 114500, stop-loss at 500 points, target at 117500 to 118500, break level at 119000 to 119500.
Southward trial position at 119000 to 119500, with a defense at 120000, stop-loss at 500 points, target at 118500 to 117500, break level at 116500 to 116000.
Specific operations should be based on real-time market data. For more information, please consult me. There may be a delay in article publication; suggestions are for reference only, and risk is borne by the individual. $BTC