August 6th, $BTC Trend Analysis
From a larger time frame perspective, yesterday's daily line closed with a small bullish candle. The K-line has been moving upwards, but overall it remains in a high-level consolidation range without any effective breakout. The indicators in the supplementary charts are still in a dead cross state, indicating that the current trend is weak, and it is difficult to sustain a one-sided market in the short term. Therefore, it should still be treated as a range-bound movement.
In terms of the shorter time frame, the hourly chart shows a slight increase during the day yesterday, with pressure and a pullback during the European session. The US session and early morning focused on recovery, and there is a rebound again in the morning. Currently, the hourly K-line has consecutive bullish candles, and the indicators show a golden cross formation, suggesting short-term upward momentum. However, since the larger trend has not yet exited the consolidation range, it is still not advisable to be overly bullish.
Intraday short-term contract trading strategy:
Enter long positions near 113700 on retracement, with a stop loss set at 113200, targeting the 115000 area;
Attempt short positions when reaching the 115200 area, with a stop loss set at 115700, targeting around 114000.
Overall, maintain a range-bound trading approach, focusing on buying low and selling high in the short term.
