Wall Street Encryption Morning Report 08.11: Wu Song successfully defeats the tiger, indicating that BTC is about to hit a new high?

Opinion: Last Friday's morning report "Wu Song Beats the Tiger Again" accurately predicted the Bitcoin trend! In the past few days, the bulls have defeated the "roadblock tiger" at 115700 like Wu Song three times, and BTC has broken through the two major resistances of 118000 and 119000 as expected! Now that Wu Song has become the tiger-beating hero, will he bravely charge towards 120000 with a big red flower? If we observe the weekly and daily trends, the medium and long-term bullish trend is clear, and new highs are expected soon; breaking through the previous high is not far off. However, 119000-120000 is an important short-term resistance zone for BTC, requiring multiple charges from the bulls. Therefore, the price's rise and fall in the past two days, along with repeated fluctuations, are characteristics of the upcoming trend evolution. Wu Song still needs to work hard!

Operation strategy: Do not change the strategy of buying on dips. Continue to accumulate positions in batches around 118500 and 118000. Consider reducing positions tactically in the range of 119700 to 120300 when prices are high.

Risk Warning: This week, pay attention to the developments in the US-Russia talks, changes in the Federal Reserve's personnel, and other uncertainties. The technical level at 117200 points is the profit-taking and stop-loss level for the bulls.