BTC Evening Perspective

This evening, BTC's price action exhibits a sense of 'entanglement', which merits our careful observation. From the perspective of the moving average system, both short-term and long-term moving averages are showing a downward-sloping bearish arrangement, and the price is firmly positioned below all moving averages. This undoubtedly suggests that the overall trend remains weak and market sentiment has not fully recovered.

However, a bullish engulfing signal has appeared in the candlestick pattern, injecting a bit of vitality into the short-term trend, indicating that there may be a rebound opportunity in the near term. Yet, this positive signal forms a slight contradiction with the bearish trend conveyed by the moving average system, adding some weighing space to our operations.

For our operational guidelines, we can consider attempting a low-buy layout in the range of 112700-113100. If we can enter successfully, the short-term target can first be set around 113800; if the rebound momentum continues to be released, we can further focus on 114200.

If it falls below 112300, the strategy needs to be adjusted. $BTC $ETH $XRP #BNB创新高 #名人MEME热潮 #杰克逊霍尔会议