As a senior figure in the cryptocurrency industry, I have been deeply involved in this charming and challenging field for many years. Having experienced the ups and downs of the cryptocurrency market and witnessed the rise and fall of numerous currencies, I have accumulated rich practical experience and unique market insights. Investment is a long-term practice, and this is especially true in the cryptocurrency industry. Only by continuously learning and improving one's cognitive and judgment abilities can one steadily progress in this challenging field.

Yang, a veteran in the cryptocurrency industry: Bitcoin Market Analysis on August 19, 2024

The current price of Bitcoin is 58,200, and it is still in a continuous decline with a very fierce momentum. The daily chart is still under pressure from the EMA26, falling back from the 60,000 mark. Friends who missed the opportunity to buy during the second dip may consider doing so now. Both the DIF and DEA are negative, the MACD has not yet emerged from the oscillating gloom, and the Bollinger Bands are beginning to contract and decline. The coin price has already broken through the middle track, and the bullish momentum will continue.

On the four-hour chart, the coin price has temporarily rebounded, and the EMA12 and EMA26 have formed a death cross downward. The MACD bearish trend is starting to increase, but it will not last long. Due to the intense market fluctuations, the coin price is oscillating between the upper and lower bands. The KDJ three lines are in a bearish arrangement. Overall, it is considered a second bottoming, and the strategy should continue to focus on being mostly long at lower levels.

Short-term strategy:

Short in the range of 61,500 to 60,800, with a target of 58,500 and a stop loss of 500 points.

Long in the range of 58,500 to 58,000, with a target of 61,300 and a stop loss of 500 points.

Disclaimer: The analysis and insights provided in this article are solely the author's personal opinions and do not constitute specific operational guidance. Any profits or losses resulting from acting on this information are the sole responsibility of the individual. Investment carries risks, so caution is advised when entering the market.

This article is exclusively planned and published by Yang in the cryptocurrency industry. If you want to learn more about real-time investment strategies, spot contract trading techniques, and operational skills, you can consult the author for learning and communication. With years of focus on BTC, ETH, and altcoin spot contracts, I hope to help you achieve brilliant results!

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