8.22 Friday Evening Thought Analysis
The early morning low long strategy successfully took profits at a high point, and the big pie pattern also emerged during the subsequent pullback. The overall oscillation and adjustment after the rise were anticipated, but it was unexpected to see another pullback to the vicinity of 112000 points. However, this is still a good thing. Tonight at ten o'clock, there will be a speech from Powell, and the impact of this news should be considerable. This week's pullback trend can basically be considered as having adjusted to the right level, and several attempts to break down have failed.
There is not much space left below, so it will depend on when the bulls start to gain strength. Overall, the strategy remains focused on low long positions. Watch for the strength of the rebound.
Evening Trading Suggestions
Go long between 111500 and 112000 on Bitcoin, targeting 113500, and if it breaks through, continue to aim for 115000. If it doesn’t break, you can switch to short positions.
