August 28th Airborne: Bearish on Bitcoin!
Review of yesterday's market trends and technical points:
Regarding Bitcoin, yesterday attempted to go short around 64000~63500, successfully connecting the overall trend in a more regular manner. The short-term rebound is relatively weak, and the current trend is still preparing for the next downward movement. It is expected that today will ultimately succeed in welcoming the decline, reaching the 60,000 mark, but this is not the end point.
BTC/Daily Chart
On the daily level of Bitcoin, yesterday closed with a full-bodied large negative candle, the day before closed with a doji candle, and today did not come under pressure to probe downward, but directly formed a negative candle. If there is no rebound in the second half of the night, this formation indicates that the short-term is still in a weak phase, ready at any time for the trend of the coin price to fall, and continues to maintain a bearish view.
BTC/4H Chart
On the 4-hour level of Bitcoin, the short-term moving averages are starting to arrange in a bearish manner, with the price running above the 60-period moving average. The evening decline will not be too large, and this candlestick pattern is very likely to form a wave of bottom probing and then a weak rebound before a second downturn. The key resistance above is around 62500, and the support level is around 60500. Stabilizing purchases are good short-term buying points.
Strategy 1: Suggest light position/long at 61000~60500, stop loss at 60000, target around 62000
Strategy 2: Suggest light position/short at 62500~62000, stop loss at 63300, target around 60500
The above are personal suggestions, for reference only. Investment carries risks, and trading should be cautious.
There may be delayed market information in the article. The mentioned points do not serve as a basis for following orders. For more information on the market and order execution, refer to the real-time strategy of "Pionex".
Scan and follow the official account below for comprehensive guidance: "Airborne Band"
Comprehensive guidance time: 7:00 AM to 2:00 AM the next day
This article is an original creation by "Airborne Band", with over ten years of investment experience, having handled funds at the level of tens of millions, familiar with the operation of main funds, washing and absorbing funds, and lifting methods. It can achieve the integration of knowledge and action in fund management, position control, investment portfolio, and investment mentality. It is proficient in judging and analyzing the overall market trend, and is well-versed in various candlestick technical tactics, with deep insights into wave theory, form theory, and index theory. Scan and follow the official account above for technical market learning and communication.
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