The cryptocurrency world is full of opportunities and challenges. We need to maintain a clear mind at all times so that we are not 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 8.5 (Written at 07:30) BTC Market Analysis and Trading Suggestions:
Bitcoin's performance yesterday was quite standard. After a failed attempt to break through 115800 in the early morning, the price fell back to around 115200 for consolidation, continuing the overall small range oscillation. Currently, the resistance above Bitcoin is at the 115800-116000 range, with support below at around 114500. It is highly likely that the price will oscillate back and forth within this range during the day. There is still some operational space for short positions at highs and long positions at lows, so everyone can manage it themselves. The 116000 level should be the dividing line for bulls and bears in the near term, and whether Bitcoin can break through remains to be seen.
BTC Trading Suggestions:
It is recommended to short around 115800-116000 on a rebound, targeting 114500-114000. If it breaks down, continue to look lower, with a stop loss at 116300.
If it strongly breaks through 116000, exit short positions and go long, targeting 118000.
Ethereum was very strong in the early morning, with the price directly breaking through 3650 to above 3700, just a step away from the upper resistance zone. Although the daily and 4-hour charts show very strong performance, the hourly chart is severely overbought, and the divergence in the MACD indicator cannot be ignored. I do not expect it to continue rising during the day. Currently, the resistance above Ethereum is around 3750, and the morning strategy is to look for a short on rebounds.
ETH Trading Suggestions:
It is recommended to short in batches around 3750-3760 on a rebound, targeting 3650-3500. If it breaks down, continue to reduce positions and look higher, with a stop loss at 3820.
The strategies in this article may have a delay and are for reference only. Please view them rationally, and you bear the risks of profits and losses!
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