Wall Street Encryption Morning Report 08.22: Emergency! The longer's situation is precarious, will there be a big dump ahead?

Viewpoint: Yesterday's morning report's forward-looking view "the longer are not resting easy, the bears will try again at the peril" has come true, as Bitcoin once broke 112000! A couple of days ago, we already analyzed the importance of the longer defending this level, but from the current daily and hourly chart analysis, the bears are still relentlessly clinging to the longer, showing a tenacity of not giving up until they achieve their goal. The longer should be worried! The time left for the longer is not much, if today's counterattack is ineffective, the 112000 peril will be lost, so fans should still watch and wait before taking action.

Operational Strategy: Currently, it is difficult to operate in a market where the long and short positions are entangled and falling. There are only arbitrage opportunities when there are sudden rises or falls. Pay attention to the long positions' counterattack points and strength near 111800 and 111300, and consider reducing long positions near 112900 and 113600.

Risk warning: longer can use 110800 as the stop loss level.