#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.
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BTC0.35%
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