8.27 Wednesday Morning Analysis
This morning, Bitcoin started to rise, reaching a peak of around 112300 points. It directly broke through the resistance level of 111500 that I mentioned before and reached the first take-profit point. Subsequently, it began a slight pullback and is currently around the 111500 point level.
From the 1-hour candlestick chart of Bitcoin, after breaking above the upper Bollinger Band, the price encountered resistance and began to pull back. It is currently operating below the upper Bollinger Band, and there should be a slight pullback in the short term. However, in the medium to long term, it has already broken the upper resistance level, opening up the upward running channel, indicating a typical trend of oscillating upwards.
Therefore, the overall strategy remains focused on buying on dips. As long as the pullback does not break, we can directly go long.
Morning Trading Recommendations
Go long between 111000 and 111600 for Bitcoin, targeting 113500. After breaking through, look upwards to 115000. If it does not break, you can directly switch to a short position.
