8.19 Biscuit Analysis
Trading plan: Rebound 1915-1920 range to set up a long. Place the stop at 1925. First target: 1900. If it breaks down effectively, keep looking lower at 1895. If it pulls back and stabilizes in the 1893-1896 range, you may lightly consider a short-term bounce. Place the stop below 1890. The rebound target is near 1910.
From the perspective of a one-hour cycle for the “Biscuit” pattern: Price quickly surged from the low at 1893.10, then topped around 1922.25. After reaching that peak, momentum was insufficient, and it immediately met resistance, followed by a sideways consolidation. The upper band of the Bollinger Band flattens after turning downward, forming resistance. Short-term moving averages that were diverging upward gradually flatten out. Bullish momentum for the rally is weakening, and there is a need for pullback and repair. The area above 1915-1920 is a previous dense sell-pressure zone and is the near-term strength/weakness dividing line. Below, 1893-1896 is the key support for this leg higher. If there is an effective breakdown, it will confirm the start of a corrective move and further open up downside room.
In terms of execution, prioritize trading with the trend: rebound to the resistance area and look for long entries only where it is under pressure. The lower low should be used only as a support-based ultra-short rebound aid—do not blindly chase tops or bottom-fish. Strictly control your position size. For each order, place the stop-loss at #btc #eth
Trading plan: Rebound 1915-1920 range to set up a long. Place the stop at 1925. First target: 1900. If it breaks down effectively, keep looking lower at 1895. If it pulls back and stabilizes in the 1893-1896 range, you may lightly consider a short-term bounce. Place the stop below 1890. The rebound target is near 1910.
From the perspective of a one-hour cycle for the “Biscuit” pattern: Price quickly surged from the low at 1893.10, then topped around 1922.25. After reaching that peak, momentum was insufficient, and it immediately met resistance, followed by a sideways consolidation. The upper band of the Bollinger Band flattens after turning downward, forming resistance. Short-term moving averages that were diverging upward gradually flatten out. Bullish momentum for the rally is weakening, and there is a need for pullback and repair. The area above 1915-1920 is a previous dense sell-pressure zone and is the near-term strength/weakness dividing line. Below, 1893-1896 is the key support for this leg higher. If there is an effective breakdown, it will confirm the start of a corrective move and further open up downside room.
In terms of execution, prioritize trading with the trend: rebound to the resistance area and look for long entries only where it is under pressure. The lower low should be used only as a support-based ultra-short rebound aid—do not blindly chase tops or bottom-fish. Strictly control your position size. For each order, place the stop-loss at #btc #eth