Morning Analysis on August 18:
The Bitcoin has been oscillating at a low level recently, but it occasionally spikes upwards to test the resistance at the mid-level. The Bollinger Bands were previously parallel, but they are now slowly opening up, indicating that the market is gaining momentum and may be preparing for a significant move.
From a technical indicator perspective:
1. The price is tugging back and forth above a key position, but the rising green bars are quite solid, indicating that the bulls still have the advantage.
2. However, the fast and slow lines have formed a death cross below, indicating that the level of accumulation is relatively deep right now.
3. This situation often signifies that there may be a strong breakthrough coming up.
Suggested trading strategy for this morning:
Buy around 116000-1166000, target 118000-119000
