Analysis and Trading Strategy for the Afternoon Market on Monday, August 18
This morning's market showed a step-like downward trend, with Bitcoin reaching a high of around 117,900 and a low of around 114,900. This downward space of about 3,000 points, I wonder how everyone has grasped it? Currently, the price is oscillating around the 115,400 level.
From the hourly Bollinger Bands perspective, the opening is widening in a trumpet shape, indicating a significant increase in short-term market volatility and heightened sentiment in the long-short game. Combining this with the current price movement direction, bearish forces are temporarily dominant.
Based on the above, the afternoon suggestion is to focus on shorting during rebounds:
Bitcoin: Place short orders around 116,500, targeting a drop to around 114,000
Ethereum: Place short orders around 4,380, targeting a drop to around 4,200
