The cryptocurrency world is full of opportunities and challenges. We need to maintain a clear mind at all times to avoid being influenced by short-term market fluctuations. It is inevitable to encounter some setbacks in the crypto space. We must understand that every difficulty we face is a stepping stone towards success. We should learn to view problems with a long-term perspective; without taking small steps, we cannot reach great distances. The road to success is destined to be winding and long!
Feiran's Cryptocurrency Analysis 7.30 (Written at 10:30) BTC Market Analysis and Trading Suggestions:
Yesterday, Bitcoin surged and then retraced. This morning, Bitcoin tested the support around 117,000 multiple times. After confirming that the support below remains strong, the price slightly rose and consolidated around 117,500. Referring to the upward movement after the Federal Reserve's decision in July, Bitcoin's sideways movement over the past two weeks is waiting for a signal, which is the Federal Reserve's interest rate decision this Thursday. Until the shoe drops, the likelihood of a one-sided market movement is low. The daytime market should be viewed as a fluctuating one, focusing on low buys around the 117,000 position!
BTC Trading Suggestions:
Buy around 117,000-117,500, target 118,500-119,000, add to positions at 116,500, with a stop loss at 116,200.
ETH Market Analysis and Trading Suggestions:
Ethereum surged yesterday and then retraced, forming a triangular consolidation pattern. In the short term, it has entered a correction phase. The price has returned to around 3,750 and is consolidating. From both the weekly and daily charts, as bullish momentum weakens, the risk of a downward movement increases after Ethereum reaches a new high. We must be cautious of divergence appearing on larger time frames. Of course, in the short term, before the Federal Reserve's interest rate decision is announced, the market remains slightly bullish. The key levels to watch during the day are whether it can hold above 3,750 and 3,700.
ETH Trading Suggestions:
Buy on a pullback at 3,730-3,750, target 3,850-3,900, reduce positions if it breaks down, with a stop loss at 3,700.
The strategies in this article may have a delay and are for reference only. Please view them rationally, and you bear the risk of profit and loss!
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