Analysis for 8.11

The major cryptocurrency has significantly changed its previous downward trend, continuously moving upward to test upper support on 8.11. During the weekend, it maintained a fluctuating upward movement, briefly pausing around the 118,000 mark. Both on the monthly and weekly charts, the major cryptocurrency shows signs of reaching previous highs, and market sentiment is gradually returning. On the daily chart, the major cryptocurrency has completed a V-shaped reversal. The upper resistance is seen at 119,000, and I personally believe it is likely to break through 120,000.

From a technical analysis perspective, the overall trend is at a high level. The MACD red bars continue to expand, with the fast and slow lines diverging upward. The daily MACD is also in a golden cross state. The RSI is at 67.5, approaching the overbought area, but has not yet fully entered extreme values and still has some upward space; it is advisable to cautiously trade, avoiding excessive leverage, and to maintain a low-risk approach during the day. (Defense is crucial)

Look to buy around the 117,900 to 118,400 range on pullbacks.

Targeting near the 119,500 to 120,000 range.

Look to buy around the 4,180 to 4,200 range on pullbacks.

Targeting near the 4,260 to 4,280 range.