Analysis for Tuesday, 8.26
From the 4-hour chart analysis, Bitcoin presents a clear bearish pattern: the price has been closing in the red continuously, the Bollinger Bands are opening downwards, and it remains under pressure at the key resistance level of the 5-day moving average at 110720; moreover, the EMA24 and EMA52 death cross pattern continues to trend downwards, indicating a clear short-term bearish trend, with downward momentum prevailing.
Recommendation: Short Bitcoin at 110500-111000, set a stop loss at 108000$BTC
BTCUSDT
Perp
86,366.2
-0.27%
ETHUSDT
Perp
2,824.68
-3.58%
XRPUSDT
Perp
1.8304
-4.62%