August 11 Bitcoin (BTC) Contract Technical Analysis: Today, in terms of the larger cycle, the daily chart closed with a small bullish candle yesterday, with the K-line pattern showing consecutive upward movement. The price is above the moving averages, and the auxiliary indicators are showing a golden cross, indicating a very clear upward trend. Therefore, in trading, do not go short; focus on buying during pullbacks. Additionally, while buying, be aware of the risk of significant pullbacks. Always be prepared for the worst-case scenario in order to navigate this market for the long term. In the short cycle hourly chart, the price rebounded from support this morning, and the current K-line pattern shows consecutive bullish candles with auxiliary indicators in a golden cross. However, chasing long positions is not appropriate, as the previous high was near the 123300 area, and the current price is deviating from the moving averages in the larger cycle. Therefore, we should use the previous historical high as a defense to go short in the short term and buy again upon pullback support. Thus, today's BTC short-term contract trading strategy is: sell on the rebound at the 122800 area, with a stop loss at the 123300 area and a target at the 121500 area. For long positions, monitor real-time support at #BTC走势分析 $BTC .
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