Bitcoin market analysis: the momentum of supplementary gains is extinguished, what is the market outlook

[Foreword]: The title of the coin holder's article yesterday was "[Bitcoin Holder] Analysis of Bitcoin Market on August 7th, I still remember the sharp drop in front of my eyes a few days ago", and the coin holder also explained the risks of long and short positions in it . Although Bitcoin did not form a waterfall market yesterday, it also collected a negative line that fluctuated around 150 points.

[BTC/USDT Market Review for Currency Holders] Yesterday, the Bitcoin market was sideways during the day, and the fluctuations were not large. The currency price has been hovering around the middle rail. As of 17:00 yesterday afternoon, the currency price has been falling from 11848 US dollars all the way. By 2 am today, the lowest point was 11322.1 US dollars. In the daily chart, a solid small positive line was collected yesterday, which directly extinguished the momentum of the slight compensatory increase the day before yesterday.

Currency holders [BTC/USDT Market Analysis] It can be seen in the daily chart of currency holders, because yesterday’s collection of a small negative line directly pulled the price of the currency back before Bitcoin did not plummet. The shadow line has pierced the support position of the Fibonacci retracement line of 11382.62, and the currency price has been in the rebound stage at present.In the 4-hour chart, the overall trend of the Bollinger Bands is upward. At present, the currency price is at the junction of the MA5 day and the middle rail (11617), and the Fibonacci retracement line (11382.62) coincides with the MA60 moving average to form a strong support. The 12,000 mark forms a suppression level, and the short energy in the indicators is initially released. It is still possible to continue the thinking of the currency holders yesterday.

Currency holders [BTC/USDT operation suggestions] 1. Enter short orders around 12000-12100, target 11382-11482, stop loss above 12100. 2. The currency price has not fallen below the 11382 line, you can enter more orders around 11382-11482, the target is 12000-12100, and the stop loss is below 11300.