Tuesday, August 4th, let’s do a simple recap of yesterday’s market conditions. Intraday pullback shorts have ended, and trading is now mainly focused on Doto (哆头). The US stock market’s open pushed BTC upward, and both the S&P (石盘) and the student long positions are showing overall floating profits!
Now let’s look at today: the current price is consolidating, ranging roughly between 630 and 639. Overall trading volume is mild, with no one-way trend. The market is waiting for further guidance from upcoming US economic data.
Technically, on the 4-hour chart, the candlestick range has been continuing to tighten in consolidation. MACD’s bullish and bearish momentum has basically leveled out to near zero. RSI is staying in a neutral-to-slightly-weak range, with no clear one-direction trading signal. On the daily chart, price is under pressure and below the short-term moving averages. The medium-term outlook is relatively weak. Only if there is a breakout with volume and a hold above 650 can the suppression from the moving averages be resolved.
From a macro perspective, overnight US stocks saw a rebound in risk appetite, which led to a passive repair in the crypto market. However, without spot-driven, active large-scale buy orders, the strength of the rebound is likely limited.
In summary, for intraday short-term trades: consider taking a light short position on a rebound into the 642–645 range, with a target at 622.$BTC #美伊谈判将启动 #原油暴跌9% #BTC☀
Now let’s look at today: the current price is consolidating, ranging roughly between 630 and 639. Overall trading volume is mild, with no one-way trend. The market is waiting for further guidance from upcoming US economic data.
Technically, on the 4-hour chart, the candlestick range has been continuing to tighten in consolidation. MACD’s bullish and bearish momentum has basically leveled out to near zero. RSI is staying in a neutral-to-slightly-weak range, with no clear one-direction trading signal. On the daily chart, price is under pressure and below the short-term moving averages. The medium-term outlook is relatively weak. Only if there is a breakout with volume and a hold above 650 can the suppression from the moving averages be resolved.
From a macro perspective, overnight US stocks saw a rebound in risk appetite, which led to a passive repair in the crypto market. However, without spot-driven, active large-scale buy orders, the strength of the rebound is likely limited.
In summary, for intraday short-term trades: consider taking a light short position on a rebound into the 642–645 range, with a target at 622.$BTC #美伊谈判将启动 #原油暴跌9% #BTC☀