August 27th Short Cut: Bitcoin and Ethereum rebounded and high-altitude during the day
BTC/Daily Chart
Bitcoin daily level, closed with a full sun last Friday. After two days of shock adjustment over the weekend, today's price started to fall from 64500. It is currently running above the 5-day moving average. Combined with technical indicators, this decline will not continue too much. It may usher in a small-scale rebound in shocks. Therefore, it can only rebound bearish and less test bullish. There are two ways to go tonight. The first is to continue to oscillate around the 63000~64500 range. The second is to rebound around 64000 and turn down again. The medium-term high-level band short can continue to hold.
BTC/4H chart
Bitcoin 4h level, the price continued to test 65000 above and was blocked again in the early morning today. The above chart shows a double top trend. Then the next step is to wait for tomorrow's news stimulus. No matter what the data is, whether it is a rebound or a direct decline, the short trend cannot be changed in the short term. Today, we will focus on the gains and losses of the 10-day moving average above 64000. If this moving average is not effectively lost, the squeeze state will continue.
Strategy 1: It is recommended to lightly position/short at 64000~63500, stop loss at 65000, and the target is around 62300~60000
The above is a personal suggestion for reference only. Investment is risky and trading should be cautious
All-round guidance time: 7:00 am to 2:00 am the next day
