8.13 BTC Silkworm Road in the early morning



The current BTC market shows a typical oscillation pattern, with prices fluctuating back and forth between the key support level of 118000 and the strong resistance level of 122000. Trading volume has drastically shrunk, indicating low market participation and a lack of clear directional choice for the time being.

Technically, although a bullish engulfing pattern has recently appeared, implying a potential reversal, the moving average system is entangled and signals a weakening momentum, indicating that the market lacks a clear trend and further breakthroughs are needed to confirm the direction. The short-term moving averages are pointing downwards, while the price is above them; the long-term moving averages are flat, and the price is below them, making the overall trend signal ambiguous.

In terms of operation, it is recommended to place long positions at low levels.

BTC: Buy in the range of 118000-118500, target 120000, long-term view at 125000, each should strictly manage their defense. #比特币市值超越亚马逊#
SOL-4.65%
BTC-1.15%
ETH-4.32%
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