August 19th empty cut: Bitcoin shock consolidation may brew a big market!
BTC/Daily Chart
At the Bitcoin daily level, yesterday's K-line closed negative, and the closing price was around 58,400. The price fell again, just at the entry point given in the article on Saturday. From the chart, it can be clearly seen that the daily level has fluctuated from a wide range, and it seems to be in a triangular pattern, and the ups and downs are gradually decreasing. Once the subsequent price breaks through the triangle dilemma, it indicates that there will be large fluctuations. In combination with the weekly line, it is highly likely that it will not deviate from the 56,000 area. For tonight, even if there is a resonance point under obvious pressure technically, it dare not say that it will fall. We can only hope that the data will cooperate with the technology. Since the end of July, the empty cut has been deduced, and it is predicted that the short position will most likely be extended to mid-August. The attached indicator short position has basically been exhausted. Therefore, tonight, we only need to focus on the 56,000 line. If it does not break, we will continue to maintain the long position unchanged.
BTC/4h chart
Bitcoin 4h level, yesterday under pressure at 60300 line, fluctuated and fell to around 57800. In the afternoon, it was consolidated around the lower track for a few hours, and began to fluctuate and adjust downward. Because the adjustment market is mostly real, bulls can participate. Of course, it needs data to get out of the predicament in the future. But no matter how it is brewed, the possibility of unilateral emergence is expected to be between one or two days. Technically, the resistance of 59000~60000 is obvious. If it does not break through this effectively, it tends to start a round of adjustment in the short term or slowly grind in the triangle area. Pay attention to 57500~56000 below. If it stabilizes, it can be bullish in the short term, because the adjustment market is mostly volatile, and the subsequent efforts will choose whether to continue holding.
Strategy 1: It is recommended to lightly position/go long at 58000~57500, cover position at 57000, stop loss at 56500, and target around 60500~61000
The above is personal advice for reference only. Investment is risky and trading should be cautious
