8.23 Powell's words caused a sudden surge in the crypto market! Latest analysis and strategy for Bitcoin
The current price of Bitcoin is 116,100. It is now 1 AM Beijing time, with a daily K-line high of 117,300. Just by Powell's words, Bitcoin surged violently by over 5,000 points. The original plan was to hold high and continue down to exit completely at 114,500. The short-term long position at 113,000 was cashed in at 116,500. Now, we are back to a position of waiting for opportunities. It is currently uncertain whether the daily line will form a right shoulder pattern; we can only decide after the market breaks the middle track. The middle track of the Bollinger Bands at 116,660 has been lost. The four-hour K-line broke through the key resistance of 114,500 with a strong bullish candle. The MACD bottom divergence trend has been reversed, and the K-line has broken the upper track of the Bollinger Bands at 115,800. Overall, the market has returned to a high-level balance point. It is not ruled out that the main force will consolidate at the middle track of the Bollinger Bands during the day.
Short-term reference: Small loss, big gain is the goal
Going north from 115,000 to 114,500, with a defense at 114,000, stop loss at 500 points, target looking at 115,500 to 116,000, and if broken, looking at 116,500 to 117,000.
Going south from 118,500 to 119,000, with a defense at 119,500, stop loss at 500 points, target looking at 118,000 to 117,500, and if broken, looking at 117,000 to 116,500.
There may be a delay in sending the article, and strategy suggestions are for reference only. The market changes rapidly; no matter how confident you are in market judgment, always set stop-loss and take-profit levels to ensure safety!
