Wave Riding in the Currency Sea: Bitcoin (BTC) Market Analysis Reference for August 4:

After diving to the line of 62228 yesterday, Bitcoin stopped falling and rebounded for a correction, now priced at 63700. From the daily cycle perspective, Bitcoin maintains a high-level range oscillation pattern, with prices running below the middle track of the Bollinger Bands, and the upward momentum gradually slowing down. MACD remains below the zero axis, and the bearish momentum has not completely dissipated; the KDJ indicator has a slight upward turning at a low level, and RSI is in the neutral zone, with a relatively balanced struggle between bulls and bears. The previous high point has formed significant resistance, with overall upward resistance being relatively large, making it difficult to establish a continuous bullish market in the short term, with the market more inclined to range trading.

The 4-hour cycle shows characteristics of oscillating correction, with prices repeatedly testing the upper pressure supported by the middle track of the Bollinger Bands. The MACD green bars have disappeared and turned into red bars, indicating a slight recovery in short-term bullish momentum, and the KDJ remains in the middle range, not yet entering the overbought area. However, during the rebound, the volume of transactions following is limited, and the selling pressure above persists, restricting short-term recovery space, with the possibility of another pullback after a surge. In the current market, avoid chasing after high prices or panic selling, and wait for high and low point opportunities to gradually position with strict stop-loss measures.

Wave Riding in the Currency Sea: Short-term Reference for Bitcoin on August 4:

Long Position: Buy in the range of 62300-63000, stop loss at 61000, target at 63500-64500,

Short Position: Sell in the range of 64800-64100, with a defense at 66000, target at 63500-62500,

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Article publication has delays and is time-sensitive. The above analysis and strategies are personal opinions and for reference only; do not act blindly!

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