Article editing time August 9, 2023, 10:31 AM, all opinions do not constitute any investment advice! For study and communication only.

Reality is like a quagmire, some choose to sink and live in mediocrity, while others cross the quagmire and face the distance. If you want to escape the quagmire, you must strive to become outstanding. There are no insurmountable obstacles in life, only people who cannot overcome them. While we admire the brilliance of others, we must also believe in the power of our own struggle. If you don't push yourself to face the harsh reality and setbacks, you will never know how outstanding you can be.

Market Review:

Yesterday's market experienced a pullback to 28700 in the early morning, and then continued to fluctuate throughout the day. The bulls broke the range pattern that had been oscillating for several days in the evening, with the overnight high testing the 30200 level and then correcting back under pressure. With a daily increase of over a thousand points, although the long positions established yesterday did not reach our entry point, fortunately, we entered the market in a timely manner and captured a space of nearly 600 points. Although the cryptocurrency successfully broke through the 30000 mark, it did not effectively stabilize above, and the current market is operating above 29600. Without further ado, let's take a look at today's market trend.

Market Analysis:

Looking at the 4-hour chart structure, the Bollinger Bands are opening upwards, and the coin price formed a long upper shadow after three consecutive upward movements. In a strong uptrend, this formation can only be considered as excessive and not as a resistance test. The MACD lines have crossed upwards, and the bullish volume continues to run, indicating that there is still some room above. Also, I want to remind everyone not to guess the peak during a slow rise. Currently, the KDJ three lines are converging and turning downwards. I personally think that the retracement strength of the market should not be very significant. Intraday operations should still focus on long positions, with short positions as a supplement. (For friends who are still confused in their operations, you may want to take a look at the strategies of Zhi Duoxing. Real-time guidance for 24 hours, the market fluctuates rapidly. Due to the impact of review timeliness, real-time layout based on actual trading is the main consideration for the subsequent market trends. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.)

Operational Suggestions:

BTC:

Long near 29500-29600, defend at 29200, target 30200-30400

ETH:

Long near 1835-1845, defend at 1820, target 1880

Disclaimer

The market changes rapidly, and the market fluctuates quickly. The entire text is based solely on personal speculation and does not have any reference value. Investment carries risks, so market entry should be cautious. I wish everyone good fortune with light trading. The article needs to be reviewed and has a certain lag. If there is anything you don't understand, feel free to ask for advice.

The above content is created solely by Zhi Duoxing's public account. The advertisements at the end of the article and in the comments section have no relation to Zhi Duoxing.

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