Analysis and trading suggestions for Deer Star on the morning of August 16



From the 1-hour candlestick chart, the current Bollinger Bands are showing a narrowing trend. Generally speaking, a narrowing of the Bollinger Bands indicates a decrease in market volatility, and there may be a subsequent choice of trend. The price is currently operating below the middle band of the Bollinger Bands, indicating that short-term bearish strength still holds a certain advantage. However, due to the narrowing bands, there is also the possibility for bulls to regain strength. Although the current price is below the middle band, the narrowing of the Bollinger Bands means that bearish strength is weakening, and bulls have a chance to counterattack. If the price can rebound and effectively stay above the middle band of the Bollinger Bands, it will be a signal of strengthening bullish strength.

Operation Suggestions:
Bitcoin can oscillate around 117,000 - 117,300, with a target looking towards 118,500-119,500, and a defense at 116,700.

The auntie is hovering around 4400-4430, targeting 4550-4650, with a defense at 4370.
(Personal opinions are for reference only, everything is subject to the actual market!) #BTC再创新高#
XRP-4%
SOL-6.3%
GT-3.01%
ETH-5.26%
BTC-2.27%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)