🔥Bitcoin soars to 118,000! What to do now? Experienced driver leads the way (8.17)
📌Current market quick look
· Current price 118,000 USD, slight increase of 0.27% in 24 hours, buying pressure is gradually strengthening, but hasn't gone crazy yet.
· Upper resistance level: 120,000-123,000 USD (breakthrough could push to 124,000+).
· Lower support level: 116,000-117,000 USD (breaking below may test 112,000).
🚀Trading strategy — Simple and straightforward version
1️⃣ Breakout action:
· If there is a volume breakout at 120,000 USD (daily closing stable), you can enter in batches, target 124,000-127,000.
· Set stop-loss below 117,000, don't stubbornly hold on!
2️⃣ Buy on dip:
· Lightly buy at 116,000-117,000, add more at 112,000 (institutional cost area).
· Take partial profits if it rebounds above 120,000, don't be greedy!
⚠️Risk control reminder — Don't be a gambling fool!
· Don't exceed 5%-8% of total capital for a single trade, don't go all in!
· Move stop-loss: if it goes up, raise the stop-loss (for example, from 117,000 to 118,500), lock in profits.
· Afraid of large fluctuations? You can buy some put options as a hedge, equivalent to buying insurance.
🔍Keep an eye on these for the future
· Technical aspects: a breakout above 120,000 must have volume, otherwise it might be a false breakout; RSI above 75 be cautious of a pullback.
· Macro aspects: Federal Reserve's interest rate cut expectations in September (bullish), whether institutional funds continue to flow in (big money movements are very important).
💡Summary
· Short-term strategy: chase the rise after breaking 120,000, buy low at 116,000-117,000, strictly carry stop-loss!
· The overall trend is still bullish, but if CPI data is bad or the Fed turns hawkish, it might drop; don’t panic, wait for opportunities to buy.
· Remember: bull markets often have sharp drops, don’t cut losses immediately on a drop, but don’t stubbornly hold on either, be flexible!
(The market changes rapidly, strategies are for reference only, profit and loss are at your own risk!) 🚀
