Technology is becoming simpler, and the mindset is gradually becoming simpler. Now is the time to wait, to dare to pursue, to dare to stop loss, and to make a profit. The process of implementing the rules of the currency market is also a process of convincing oneself, constantly persuading oneself to become better. The cultivation of human nature begins with stop-loss and take-profit. Willing to accept losses and confidently win. Making trades is a process of solving various psychological barriers brought by investment and reshaping one's behavior.

Market Review:

After experiencing half a month of narrow range oscillation, Bitcoin has experienced a breakthrough. Influenced by the news, the price of the currency retraced to the 25900 area and rebounded again in the evening, finally breaking out of the small one-way trend, with a surge of over 2000 points, reaching a high of over 28100. Ethereum followed the rise, and our long strategy in this market has been validated. Congratulations to the friends who followed the operation. If you are uncertain about the market, you can follow Jiuge, who does not trade frequently, only steadily. Next, let's take a look at the market trend!

Market Analysis:

Looking at the daily chart, yesterday closed with a large bullish candle, breaking the narrow range oscillation structure that has been maintained for nearly half a month. The previous one-way sell-off also recovered nearly half of the decline. From a technical perspective, the Bollinger Bands are beginning to contract, and the price is running above the midline. The MA5-MA10 has formed a golden cross and is moving upward. Currently, the bullish momentum is still strong. Yesterday, it briefly broke through the 28000 level and retraced. In the future, we will continue to focus on whether the 28000 level can be broken through and stabilized. From a technical perspective, looking at the four-hour chart, the Bollinger Bands are in an open state, and after two large bullish candles, the price directly broke through the upper band of the Bollinger Bands, but did not stabilize and continue, instead it retraced and formed a long upper shadow candle, followed by two consecutive small bearish candles. The momentum is slightly insufficient. Looking at the attached chart indicators, the MACD lines are running upward after a crossover, and the bullish energy column continues to increase. The KDJ three lines show a desire to head down, indicating that there is still some room for retracement in the market. Therefore, in terms of operation, it is recommended to consider entering a long position after observing a retracement!

Trading Suggestions: (Published on: 2023.8.30 11:30)

BTC: Long at 27200-26800 range, target 27800/28300 (Reverse to short if it does not break 28300)

ETH: Long at 1700-1680 range, target 1745/1770 (Reverse to short if it does not break 1780)

Disclaimer:

The market changes rapidly, and the market fluctuates quickly. Personal opinions and suggestions are not real-time and are for reference only. If there are no positions, wait and see. Friends who are uncertain about entry points can follow the official account below to get real-time entry points based on the market conditions.

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