August 27th Bitcoin Evening Silk Road

In the early morning, the long positions on Silk Road have currently captured a space of 3000 points. After the good news, now it has turned to short positions, and it has also pulled back to the right level!!!

The entire day has been dropping, unable to hold above 111000, and the daily line is about to completely give back yesterday's gains. The 'Golden Ratio' line at the 50% level on the 4-hour chart has also been lost, and now it feels like it needs to step down further. Tonight, I will be watching the integer level of 110000:

If 110000 holds, I might take a small position for a rebound, and if it reaches 111800-112500, I will exit. If 110000 is heavily broken through, don’t hesitate, just look at 107000-108000 before considering bottom-fishing.

Bitcoin: Long positions in the range of 110500-111000, target 112000. If it breaks, then look at 114000, and each should strictly maintain their defensive positions. If anyone cannot understand the trend direction, don’t worry! Luyao shares directional strategies every day, so just pay attention to that.

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