8.25 Monday Evening Thought Analysis
From the 1-hour candlestick of Bitcoin, after a downward spike in the early morning, there was a slight rebound in the morning, but the strength of the rebound was capped around the 113500 level and could not go higher. Then it started to decline continuously, and now the pressure level around 111000 is also close to breaking down.
However, there is no need for everyone to panic; the subsequent strategy is still mainly focused on going long at lower levels. The spike in the early morning has already established the low point position. As long as the new low does not break below 110300, one can confidently go short and patiently wait for the market to unfold.
Currently, it appears that the MACD lines have basically bottomed out as they run downward, and the bearish momentum is gradually weakening. The bulls are about to start gaining strength. The KDJ three lines are also nearing the bottom as they run downward, showing a tendency to start rebounding. The overall strategy of going long at lower levels will still not change.
Evening Operation Suggestions
Go long between 110400 and 110900, aiming for 113500. After breaking through, continue to look for 115000. If it does not break, consider going short in the opposite direction.
