#Gate 8月储备金报告出炉 Evening market overview on 18.15: BTC daily chart bearish engulfing pattern.

The BTC opened this morning with a solid bearish candlestick, forming a bearish engulfing pattern compared to yesterday, and is experiencing intraday fluctuations downward.
The 11.83 level supports both upward and downward movements; a breakthrough and stabilization suggest a bullish outlook. The bearish structure observed from the daily chart indicates that there may still be a possibility of a pullback, and effective support might be found around 11.72. If 11.63 is broken, it could lead to a significant pullback for BTC.
Wait for a breakout above 11.83 on the right side before shorting back in line with the trend, with a stop at 11.9 and targets at 11.75 and 11.66; conversely, look to go long at 11.72 with a stop at 11.63 and targets at 11.84 and 11.9; the MACD shows signs of a golden cross, so if 11.83 breaks and stabilizes, consider going long in line with the trend, with a stop at 11.77 and targets at 11.9 and 12.03.
Friends passing by, please take a moment to follow me as the greatest support for me! Thank you! Following me will keep you on track with the latest news and point analysis every day, as well as the wealth codes you want. Remember to like and follow!