August 28 Bitcoin Market Analysis

The market on Wednesday still lacks any fresh events, but Trump's serious attitude towards Indian tariffs, along with instability in the interest rate sector, continues to create a chaotic scene. In short, the global market is red under Trump, with Bitcoin testing 112600, aligning with a high-position short strategy, Ethereum testing around 4680, and gold approaching 3400.

Today's Data:

1. 20:30 Initial jobless claims in the U.S. for the week ending August 23

2. 20:30 Revised annualized quarterly rate of U.S. real GDP for Q2

3. 22:00 U.S. July existing home sales index month-on-month

4. Next day 06:00 Federal Reserve Governor Waller to speak on monetary policy

Technically: The downward structure has not changed, but the upward structure at 108600 has not been broken. It is believed that short-term attention should be paid to the current structure: the trend type in the 110500-112200 area. Main structural resistance: 115770-119900. On the 4-hour chart, a variant PB (spindle) candlestick has appeared, with upward demand being supported. The MACD fast line and slow line are about to golden cross below the zero axis. The momentum bar is reducing below the zero axis.

Strategy: Upward movement continues, still short; overall market trends should pay attention to the completion of structural types.

Long position at 111000, stop loss: 110500, take profit: 112500, breakout at 113500.

Short position at 112500, stop loss: 112800, take profit: 11500.

Second Bitcoin

Technically: The appearance of structural types provides a running area: 4060-4957. The internal structure of the short-term center shows a retracement trend, currently at a critical position, and may experience fluctuations. The main structure and PB appear on the 4-hour chart, with no change in the short-term weakness. Resistance around 4680 has been achieved, while the breaking point below 4560 points to 4400. The MACD fast line and slow line have crossed down near the zero axis; the momentum bar is expanding and reducing below the zero axis.

Strategy:

Short near 4395, stop loss: 4377, take profit: 4500-4575-5640.

Short at 4640, stop loss: 4657, take profit: 4550-4600.

Market fluctuations are intense, and risk control must be well managed!