September 1st: Bitcoin long and short alternately waiting for the range to break
Review of yesterday's market trends and technical points:
Yesterday's article explained that relying on the resistance of 60,000, the rebound is mainly bearish, and the previous article successfully connected at 59,500, accurately reaching the target. Because the market volatility at the end of this week is relatively small and volatile, it is expected that after the short adjustment of the market next week, it will return to a strong long pull-up. The current entry point is not in a good position, between the middle and the middle, and encounters interval back and forth oscillation adjustment. Wait for the end of the brewing to get out of the oscillation dilemma, and make the next adjustment next week.
BTC/Daily Chart
At the Bitcoin daily level, there is not much to watch this weekend. Today, I will mainly talk about the analysis content for next Monday. [As shown in the figure] The low point of the previous two days, 57700, is still supporting the overall resistance to decline, and it is in a certain deadlock. The corresponding MACD short energy has not been exhausted. It is expected that the downward space next week will not be too large. Focus on the following two points: short-term support 57700, followed by 56000. For the clear direction of the market, we need to wait for the short indicators to be exhausted next week. It is nothing more than the length of adjustment time, and finally return to a strong unilateral pull-up. We can only wait patiently.
BTC/4H Chart
At the Bitcoin 4h level, the reference strategies given in the past few days are basically the same. We still pay attention to the upper resistance of 60000, which is also in line with the current bearish prediction. The trend resistance line is very obvious, and the small double bottom support is also obvious. The lower 57700 is also the top and bottom conversion of the previous low. The focus of subsequent attention is that the two points cannot be effectively broken, so we can only wait for the stimulation of the news next week to get out of the predicament.
Strategy 1: It is recommended to lightly position/go long at 57700~57200, stop loss at 56500, and the target is around 59500~60000
Strategy 2: It is recommended to lightly position/go short at 60000~59500, stop loss at 60500, and the target is 58000~57700. If it breaks, it can be held
The above is personal advice for reference only. Investment is risky and trading should be cautious
