Evening Thoughts on August 27
In the morning, Bitcoin was pressured down from the level of 112300, with the low point reaching around 110800. The short-term market is still mainly characterized by a strong oscillation. Observing the hourly Bollinger Bands, the three lines are slightly diverging upwards, indicating that the morning's pullback has not broken the short-term oscillation upward pattern. Previously, the price briefly broke through the upper band but quickly returned to the channel, with the key issue being that the volume did not support the breakthrough process, causing the bullish momentum to be difficult to sustain.
Bitcoin Trading Strategy: Rebound around 111750-112580 🈳, looking down towards around 110850
Altcoin Trading Strategy: Rebound around 4625-4660 for a short position, looking down towards around 4538 $ETH