August 15th Big Cake Thoughts:
The current BTC price is below EMA5, EMA10, and EMA20, and is also clearly below EMA120. This suggests that on the 4-hour timeframe, the trend is still moderately bearish, with a structure that is attempting to stop the fall in the short term.
RSI6, RSI12, and RSI24 are all around 35, staying in a weak range but not yet entering an extreme oversold condition. RSI6 previously dropped to 22.7 and then rebounded, indicating that some buy-side support appeared at the low level. However, strong momentum has not formed yet.
Trading suggestions:
Big Cake: move down from 63,500–63,000, with targets at 62,000–61,500
Second Cake: move down from 1,900–1,880, with targets at 1,830–1,800
(For reference only—follow the live order book!)
The current BTC price is below EMA5, EMA10, and EMA20, and is also clearly below EMA120. This suggests that on the 4-hour timeframe, the trend is still moderately bearish, with a structure that is attempting to stop the fall in the short term.
RSI6, RSI12, and RSI24 are all around 35, staying in a weak range but not yet entering an extreme oversold condition. RSI6 previously dropped to 22.7 and then rebounded, indicating that some buy-side support appeared at the low level. However, strong momentum has not formed yet.
Trading suggestions:
Big Cake: move down from 63,500–63,000, with targets at 62,000–61,500
Second Cake: move down from 1,900–1,880, with targets at 1,830–1,800
(For reference only—follow the live order book!)