August 13th Afternoon Analysis
There is a significant backlog of short positions on the four-hour chart, with Bitcoin still failing to reach the 120,000 mark, while Yitai is showing relative strength. Generally speaking, a low-to-long strategy remains viable, but be sure to set a stop-loss when trading, and avoid holding onto positions.
Bitcoin Recommendation: Go long around 119,000-118,500, with an initial target around 120,000; if it breaks through, further increases to 121,500-123,000 are possible.
Yita Recommendation: Go long around 4,600-4,580, with an initial target around 4,680; if it breaks through, further increases to 4,800 are possible.
