✨2024.8.7 Today's Analysis✨
🕒 Market Dynamics:
Currently, Bitcoin is still fluctuating around 56,000. As time goes by, the moving average gradually suppresses the price. The overall altcoin also rebounded to a relatively high point. This is the first bottoming rebound. The probability of subsequent oscillation at the bottom is extremely high. Therefore, do not chase high and intervene, and wait patiently for the pattern to come out.
From a short-term perspective, the long volume has weakened at a small level, and it may gradually begin to fluctuate downward.
🔹 Strategy Recommendations:
It is recommended to wait and see, do not chase high and intervene, and wait for the market structure to become clearer before making a decision.
$BTC :
Resistance: 56,000-58,000 Support: 53,000 / 50,000
$BTC :
Resistance: 2,600-2,700 Support: 2,300-2,200
✨ Summary:
The current market is in a period of oscillation and adjustment, and it is not advisable to chase high. Wait patiently for the market to come out before considering intervention.
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