Morning Outlook for August 7:
The 4-hour chart of Bitcoin shows a bearish correction expectation in the short term. The price briefly touched the upper Bollinger Band at the 115670 level before retracing, followed by two consecutive bearish candles, indicating that upward momentum is waning at high levels and selling pressure has significantly increased. The price is approaching the middle band, reflecting a temporary lack of upward momentum, with expectations of another test of the middle band support.
Trading Suggestions:
115500-115000 🈳, target 114000-113000, stop loss at 115700
Second Bitcoin: 3700-3670 🈳, target 3560-3500, stop loss at 3720
(For reference only, based on the stone plate!)
