Monday, August 11, morning thoughts

A new week has already begun; are you ready? Wishing everyone good luck! From the current market conditions, market sentiment has started to gradually warm up. Last night, Bitcoin slightly pulled back to 118000 but did not break below and then rebounded. Currently, the price is above 119000, and the trend shows that the bulls are dominating.

The technical structure is showing a bullish trend, with slight pullbacks being strongly suppressed by bulls. The 4-hour chart shows consecutive bullish candles moving upwards, overall forming a large V pattern. Currently, there are no clear signs of a short-term reversal. In the future, pay attention to the breakthrough at 119500-120000; if it breaks, go long, if it doesn’t, initially take a short position based on the high, and then go long after it goes down.

Morning reference for short positions in the 119500-120000 area, watch 118000, if it breaks, continue to look down at 117000, if it doesn't break, reverse to long and look back at 120000. #PI# #BTC# #ETH#