Bitcoin Market Analysis Predicts Short-Entry Opportunities Ahead

Zhang Lihui, an experienced crypto analyst, recently shared his market analysis and trading suggestions for Bitcoin (BTC) on August 1st. According to him, a wave of Bitcoin shorts has been accurately predicted in advance by Lihui, with the high short positions set up on the 29th achieving the target of $62,500.

The K-line just reached the lower boundary of the daily Bollinger band, and July's market was relatively easy to trade due to its small fluctuation range. The price hasn't broken through the daily small box resistance level or soared to the exaggerated $78,000 claimed by some people, so Lihui focused on short setups.

The strategy remains to focus on these resistance areas for high short entries. If the lower band and $62,000 support fail, look further down to the 3-day MA500 and the lower band area; if this region holds, consider entering long positions for the long term!