Analysis of the afternoon market of Bitcoin on August 11
Market background:
The debate between former US President Trump and former Vice President Harris at the National Constitution Center in Philadelphia, Helsinki has ended.
Although the debate did not involve topics related to cryptocurrency, the market reaction was obvious: Trump's approval rating dropped to 50%, and Harris's approval rating rose to 49%.
The crypto market then emerged
Technical analysis:
Date chart:
Bitcoin prices once again tested the $58,000 level in the early trading. In terms of chart indicators, both KDJ and MACD showed bullish signals.
Four-hour chart:
The Bollinger Bands began to close, and the price fell back after hitting the top, forming an M-top pattern. At present, the third big negative column has appeared, but the middle track of the Bollinger Bands is still rising, so it is not yet certain whether the market has turned from long to short.
The KDJ indicator dead cross diverged later, and the MACD continued to turn at a high level, and the volume was slightly reduced. On the whole, there may be short pressure during the day, but it is not recommended to be overly bearish.
The key support level is in the range of 55,800-56,000 US dollars. After breaking through, we need to pay attention to the support of 55,000-55,500 US dollars. The upper pressure is around 58,100 US dollars and 59,000 US dollars.
Operation suggestions:
Rebound operation:
If the price rebounds to around 57,500 US dollars, you can try to short, set the stop loss above 58,100 US dollars, and target the 56,500-56,000 US dollars area.
Support operation:
If the price is close to 56,000 US dollars, you can try to go long, set the stop loss below 55,500 US dollars, and target around 57,000 US dollars.
If it breaks through 56,000 US dollars, continue to pay attention to the 57,500-58,000 US dollars range.
Ethereum strategy:
The above operation strategies can be carried out simultaneously. Set stop loss according to personal position situation to control risks. API data will be released in the evening, and investors need to pay close attention to market dynamics.
Summary:
The current market is in a period of volatility. When operating, you need to maintain stability and make decisions based on technical indicators and market news. Reasonable setting of stop loss points and risk control are the key.
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