August 7th empty cut: Where will Bitcoin go in the future? Today's latest analysis
BTC/Daily chart
Bitcoin's daily chart level, this Monday once again staged a bungee jump market, and at the end of July, it broke through the 70,000 mark. In just a few days, it plummeted by more than 20,000 points. Such an unpredictable market has left investors at a loss. Who is kidding the currency circle after a sharp decline after a high rise? Combined with the continuous negative K-line last week, the price has been under pressure. The short-term moving average has been falling all the way, and the lowest has reached 69,000. The wave of bottoming out has continued to rise. In this trend combined with the attached chart indicators, I think this rise is insufficient in power and will continue to be suppressed in the future. The short-term resistance is below the 5-day moving average at 57,000. Whether it can break through, it will have to wait until the closing to be clear. If it continues to fall back and is still below the moving average, then it will still maintain a weak correction. Today, it will continue to be bearish and downward. On the contrary, if it closes above the 5-day moving average, then it will change its thinking in the short term and go for a bullish rebound on dips to test the middle track 61,000 and the channel counter-pressure point.
BTC/4h chart
Bitcoin 4h level, as can be clearly seen from the above figure, the price has risen after bottoming out at 49,000. Although the bearish sentiment has eased, for now, there is still a fierce battle between long and short positions. The current 1. Resistance 57,000 suppression has been broken. Note 2. The resistance line of 61000 is more important. It can be said to be the turning point of the weak correction and the opening of the last wave of suppression. Today, we need to pay attention to the area of 55000~54000 below, because one of them is likely to become a short-term turning point, and it will eventually return to the long-term unilateral pull-up.
BTC/1h chart
Bitcoin 1h level, the current price is running around 56500, and the upper short-term resistance is around 60000. You can try to be bearish below it. In addition, if 60000 cannot be maintained, there may be another wave of highs and falls. At that time, pay attention to the gains and losses of the important resistance of 61000. There is a buying point in the range of 55000~54000 below. At this time, what needs to be tested is patience and control of the entry point
Strategy 1: It is recommended to lightly position/short at 58500~59000, cover short at 59500, stop loss at 60000, and the target is around 55000~54000
The above is a personal suggestion for reference only. Investment is risky and trading should be cautious