August 21st Empty Cut: Bitcoin short-term bulls come to an end! Today's latest trend analysis and suggestions
BTC/weekly chart
Bitcoin weekly level: Today we will focus on the weekly chart (as shown in the figure). The previous round rose from the lowest 56100 to around 61800, an increase of 5700 points. Referring to the previous two rounds of weekly price fluctuations, it finally returned to the parallel price of 58500. This week's opening price is 58300, close to the middle track 62000, and there is a suppression adjustment again. After all, today's rise of 61300 is far from 620 00 middle track is not far away. In short, in this mid-term round of pull-up, there is not much room for a strong unilateral pull-up for the time being, and it is temporarily at a certain risk edge, but this wave of downward adjustment should be guarded against sudden diving and consolidation at any time. According to the reference of the same increase theory, it may reach around 57,000 and temporarily start the next wave of downward adjustment. Therefore, this week's market needs to pay special attention to the gains and losses of the 56,000 support line. It seems to be a fuse, whether it will continue to pull up unilaterally or conform to the technical channel under pressure and start to fall and adjust.
BTC/Daily Chart
Bitcoin daily level, yesterday's K-line closed positive, rose first and then fell to the middle track 62000, and there was a pressure adjustment pattern. Relying on the 60-day moving average to maintain a bearish momentum, any decline or adjustment or high-level consolidation is to prepare for further historical highs in the future. It cannot be judged by the rapid rise and high rise to reach the top, but it needs to be deduced by the monthly bull market time cycle. There will definitely be adjustments at a certain time during the process, and try to avoid the turning point of the adjustment to follow the rise. It is necessary to combine the judgment and analysis of the level just now, and if there is an obvious daily pressure pattern in the future, etc., the short-term 60-day moving average resistance is 61500. The price appears on the edge, and it is necessary to pay attention to a large drop. The channel retracement confirms that the support is 56000, so it is necessary to pay attention to the stabilization of these two positions.
Strategy 1: It is recommended to sell short in batches at 60,500~61,000, cover at 61,500, stop loss at 62,000, and target around 57,000~56,500
The above is personal advice for reference only. Investment is risky and trading should be cautious
