BTC market analysis on August 22, 2024:
Last night, BTC rose to a maximum of 61,794, attracting 900 million liquidity during the rise, and nearly 40,000 people liquidated their positions.
After midnight, the trend of BTC was different from before and did not continue to fall, indicating that the North American market began to stabilize.
In early trading today, altcoins generally rose, with gains between 10-15%. The following currencies such as REZ, ACE, LDO and TNSR all rebounded significantly, and the rebound of other strong altcoins was even more obvious.
The short-term support level of BTC is 59300±200 and 58000, and the pressure level is tentatively set at 61850.
Last night, BTC failed to hit 61,850 again. It is currently in a consolidation state. You need to pay attention to the retracement signal. The key support level is around 60,000.
The top side will focus on whether it breaks through 61850.
It is recommended to continue to hold the spot that bought last week at a low price, and can use the pound for operations on the 26th/27th. For more market information and strategies, follow my personal master Ye to find me and share spot and contract trading strategies for free.
Operational suggestions: Long-term fixed investment remains unchanged, spot stocks that buy low in the mid-line band can be held for a week, and short-term trading can keep bottom positions to cope with fluctuations.
