August 16th: Bitcoin is volatile and beware of changes. Today's price trend analysis and operation suggestions
BTC/Daily Chart
At the Bitcoin daily level, yesterday's K-line closed negative, which seems to give the bears time to breathe, but be cautious at all times. It is very likely to be repaired through high-level interval consolidation, but the overall decline is not strong. This morning, there was another oscillation and retracement, and the lowest price just happened to be around 57,500 on Monday. If the price reaches the support effect, then after today's price fell to around 57600, it turned bullish again. The trend has clearly entered the oscillation range of 57500~62000, fluctuating around 4500 points. Therefore, the bullish trend still needs to be maintained, but it is currently around 59500. The price difficulty of buying is too high. The safe approach is to wait patiently for a retracement and continue to be bullish near the short-term support of 58000. Focus on the 62000 resistance level. Once it breaks through effectively, make an effort, maybe 6 3000~64000 went up quickly~
BTC/4h chart
Bitcoin 4h level, currently temporarily under pressure below the high point of 62000, but at the same time above the support of 57600 on Monday, maintaining a range consolidation mode. Its key pressure in this cycle should be the two important points of 62000 and support 57500. No matter which side breaks through effectively, the probability of going unilateral next is relatively high. I hope it will not happen, because if that happens, it may be difficult to give the opportunity to retrace the bullish trend. It is directly strong. Chasing requires sufficient order volume, and it is inevitable to worry about the sudden appearance of profit-taking orders, and chasing at the top of the mountain. Therefore, this kind of market must be accompanied by a stop loss, unlike the slow trend of the white market, which is safe~
BTC/1h chart
Bitcoin 1h level, from the comprehensive attached chart indicators, the long and short sides are facing difficulties and the two sides are in a stalemate. This situation will repeatedly maintain this sideways trend, or run in a convergent triangle, with support in the range of 57500 and resistance of 62000~64000. If it is touched, you can carry out high-altitude and low-multiple thinking.
Strategy 1: It is recommended to batch/light position/short at 62000~61500, stop loss at 62400, and the target is around 59000~58500
Strategy 2: It is recommended to batch/long at 58500~58000, stop loss at 57500, and the target is 61500~62000. Breaking the position is in the range of 63500