Evening Thoughts on 8/11:
The most concerning question has arrived: Pullback? Where will it pull back to? Should we go long or remain neutral? At what position should we go long, and what position should we remain neutral?
The daily chart of Bitcoin shows a recent continuous increase in price, forming several bullish candles, with the K-line on the 10th and 11th indicating a significant surge followed by a consolidation pattern. On the 4-hour level, the price is experiencing high-level fluctuations around the 120,000 line, gradually entering a correction phase after a previous surge. The MACD histogram on the 4-hour cycle continues to shorten, indicating weakening bullish momentum, and the adjustment is not yet over!
Trading Suggestions:
120800-120300 Neutral, target 119000-118000, stop loss at 121000
Altcoin: 4230-4200 Neutral, target 4100-4000, stop loss at 4250
(The market changes rapidly, for reference only!)
