8.11 Tuesday Afternoon Market Analysis
Today’s daytime market remains in a consolidation phase after a missed sell-off. The BTC has been ranging around 64,000, with fluctuations of roughly 100 points up and down. Mu Feng believes this kind of behavior looks exactly like it’s setting up for an evening rebound and push higher.
Looking at the four-timeframe chart levels, the price ratio is supported by the lower rail, and there are clear signs of bottoming. The chances that sellers will continue further are not high.
For afternoon trading, it is still recommended to focus on going long.
BTC 63800～63500 long, target 64500～65000
ETH 1870～1850 long, target 1900～1920
$BTC $ETH
Today’s daytime market remains in a consolidation phase after a missed sell-off. The BTC has been ranging around 64,000, with fluctuations of roughly 100 points up and down. Mu Feng believes this kind of behavior looks exactly like it’s setting up for an evening rebound and push higher.
Looking at the four-timeframe chart levels, the price ratio is supported by the lower rail, and there are clear signs of bottoming. The chances that sellers will continue further are not high.
For afternoon trading, it is still recommended to focus on going long.
BTC 63800～63500 long, target 64500～65000
ETH 1870～1850 long, target 1900～1920
$BTC $ETH