Mr. Coin in the Coin Circle: Reference for Bitcoin (BTC) Market Analysis on August 30
It was mentioned in yesterday's article that the price of the currency had a technical rebound. During the day, the long and short sides of Bitcoin were in a stalemate at the 59,000 line and entered a repair consolidation. In the early morning of the day, the market attacked again, and the price went up. At present, it was under pressure again near 61,150. The market appeared to be inserted upward. At present, the price also fell back to the position below 59,000. It can be seen that the upper pressure is still relatively strong.
From the hourly chart level, MACD is below the zero axis, the fast and slow lines are diverging downward, and the short positions of the EMA moving averages are relatively dense. In the medium and long term, the trend is still relatively weak. As the market rushed up and went out of a strong correction, the Bollinger Band track was gradually opened. The current trend is under pressure in the middle and lower track area, and it will touch the 58,800 position in the short term and rebound slightly. At present, both long and short sides have entered a consolidation. The short-term pressure focuses on the 60,000 line. If the subsequent rebound can break through, the increase is expected to continue further. At present, the support below is 58500.
From the daily chart, the price closed negative yesterday, and the market was under pressure at the middle track. It has broken upward again, but the trend has not stabilized. The market is also under pressure near 61150. The price has adjusted back by more than 2000 points. It is currently returning to the 59000 area. Fortunately, the 58000 line has not been broken, and the overall trend has not changed. The attached MACD fast and slow lines show signs of dead cross, which shows that the intraday market is still biased towards weak fluctuations. The operation is mainly rebound short, and the points can refer to the points in yesterday's article.
8.30 Bitcoin short-term reference:
Focus on the 57500-58000 range for long orders, and try to buy with a light position, with a target above 59000.
Long order 2: long in the range of 55000-56000, target above 57500,
Short order, short in the range of 59500-60000, defense 61200 to cover, stop loss 61500, target below 59000,
Short order 2, short in the range of 60800-61200, target below 59000,
There is a delay in the sending of the article, and the strategy suggestions are for reference only. The market changes rapidly. No matter how high your judgment of the market is, you must take the stop profit and stop loss well and put the profit in the bag