8.22 [Aerial refueling?] Emergence of Consolidation Zone]
BTC recap. This violent rally of over 10,000 points. Finally showed signs of slowing down around 7.8. But the trend isn't over yet~ First, conclusion: close to the bull-bear boundary. The trend remains bullish. Short selling requires more candlesticks and structure. Short-term game in a small consolidation zone. Figure 1. Weekly resistance at 8.25 still exists. Regarding whether there will be a "bull pullback." This is a key position; you can check the detailed weekly analysis from a few days ago~ The larger support resistance in the chart is still valid. Currently, resistance is blocked at 7.8 on the daily chart. Such a rally. A slight pullback is quite normal. Until the 7.4 level is broken. Don't worry about entering a price vacuum. Figure 2. The short-term perspective that everyone cares about. Intraday support at 7.63 - trend line. My personal view is that this will form a consolidation zone. In the short term, just sell high and buy low around the trendline up to the 7.92 range. Considering the current large-scale strong bullish trend, the conclusion is to prioritize going long. Here, whether around 7.8 or later breaking down to 8.25, the first time the price reaches resistance, the short position is always on the left. Before a long period of consolidation and a breakdown is formed, it will not immediately shift from a bullish trend to a bearish position. The so-called consolidation can refer to the arrow on the left side of Figure 1. Thinking of shorting at the highest point, it's better to buy on dips and pullbacks to buy more~
$BTC
#BTC延续强势, can the flow of funds be sustained?
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more