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Daily Report on August 16th: BTC: Escalating Struggle: What's the Next Step?

CN
Newbee
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1 year ago
AI summarizes in 5 seconds.

We saw a daily candle with a volatility of over 7%, which really made for a tumultuous day. Although the result was a comprehensive victory for the bears, the process was far from peaceful. As for the future market, both rises and falls are reasonable. Despite the escalating disputes between long and short positions, there is really no need to take sides behaviorally. It's best to remain cautious and wait and see.

In the medium term, although a clear downward trend has formed, the price behavior is full of variables, with chaotic volume. Both long and short positions face the risk of being overturned at any time. Additionally, the current shorting price is very poor and not worth operating. I am also forced to wait and see.

In the short term, there was an initial rise followed by a fall, maintaining the consistent style of crazy market fluctuations and needle-threading.

Strategy: It is suggested to hold off for now, as there may be a V-shaped rebound.

Time waits for no one, and the cryptocurrency market is no exception. Join the high-end communication circle, seize the opportunity, and position yourself for a bull market in September and October! Scan the QR code below to follow our official account for communication and discussion.

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Selected Articles by Newbee

1 year ago
10.21 Daily Report on BTC: High-level fluctuations, is it going to drop?
1 year ago
10.16 Report on BTC: The second half of October will be spent in an upward trend.
1 year ago
10.15 Daily Report BTC: Short-term fluctuations are not stagnation.
View More

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