There was a gain this morning because of the news: El Salvador will buy 135 million dollars worth of Bitcoin for its citizens. It will be officially circulated on September 7th. Since the amount of funds is not large, the gain is limited and now it's sideways. The BTC contract long/short ratio is 1.12. In the short term, the bulls are more confident. From the 4-hour line, the Bollinger Bands are widening; KDJ and RSI are flat; MA5 and MA10 lines are crossing. There is a high possibility of fluctuation with a climb of 500-1000 points.
In the short term, focus on the 35,500U mark. If the price fails to break through quickly, it means a drop. Current situation indicates a low possibility of a bull market this week. Let’s see if 35,500 could become a solid bottoming. Continue to short at high points at night, with a 500-point stop loss.
In the short term, focus on the 35,500U mark. If the price fails to break through quickly, it means a drop. Current situation indicates a low possibility of a bull market this week. Let’s see if 35,500 could become a solid bottoming. Continue to short at high points at night, with a 500-point stop loss.