August 12th: Yesterday's Summary and Early Morning Trading Suggestions
Let me briefly discuss yesterday's unlucky situation. I won't dwell on the smaller points. Big Pie's three-dot-one-dip unlucky situation resulted in a total gain of over 9,600 points. Concubine's three-dot-one-dip unlucky situation also resulted in a total gain of 475 points. He didn't follow suit when he should have, and no amount of reminders would have been enough. He truly envied others' fate. Uncle Zhang can only feel pity.
The key to success in the trading world is maintaining an unnatural composure amidst volatility, not being carried away by greed during a rally or carried away by fear during a decline. Those who rush to act often miss out on big opportunities. Those who can remain patient and wait are more likely to seize the gifts presented to them.
A 4-hour technical analysis of Bitcoin shows that the middle Bollinger Band continues its steep upward trend, forming a medium-term bullish channel and providing strong support for the price. When the price hit the previous high of 122,450 and encountered resistance, the candlestick body gradually narrowed and the strength of the bearish candlestick weakened. After dropping to the key level near 119,500, it quickly stabilized, demonstrating the resilience of the bullish trend. The surge in volume during the upward phase released offensive momentum, while the volume during the pullback period plummeted to a low, reflecting the exhaustion of selling pressure. Meanwhile, the short-term moving average maintains an upward slope, forming a "double support resonance" with the middle Bollinger Band, further strengthening the bullish trend. If the middle Bollinger Band support holds, there is a high probability that a subsequent rebound will rely on this support, re-challenging the previous high or even breaking through to open up new upside potential. The technical bullish trend continues to strengthen. Reminder, set a stop loss!
Suggestion:
Big Pancake is trading around 119200, target around 122000
Yin Tai is trading around 4250, target around 4400
