Bitcoin Trading Analysis on August 24th Afternoon
The hourly chart shows a gradual upward trend. More importantly, both the hourly and 4-hour moving averages are trending upwards, forming a relatively strong trend. The trading volume is rising along with the price, which is a good combination, indicating that the buying power is slowly accumulating. In terms of operations, the main strategy is to buy on dips.
Trading Suggestions: Bitcoin: Buy around 114000-114500, target 116500
Ethereum: Buy around 4700-4750, target 4850#
