Analyst Chen Shu: 8.13 High Position Consolidation Focus on Daily Closing, Midnight Market Analysis / Accompanying Trading Strategy

Market Analysis: Bitcoin has not continued to break upward significantly on the daily chart, and the short-term price is still under pressure from the upper levels of 120,000/122,000. Pay attention to whether the daily closing will be in the red. The 4-hour pullback support level to watch is around 116,800/115,500, while the resistance levels continue to focus on 120,000 and the high point of 122,000. As for Ethereum, it has once again broken through a new high. After collecting two green candlesticks on the daily chart, it has once again closed with a red energy bar today. The upper resistance level is temporarily unpredictable, while the short-term support can be focused on 4,260/4,170. It is not recommended to chase high; it is more prudent to wait for a pullback before entering long positions.

Trading Strategy (Published at 23:30):

BTC: Long at 118,000/117,200, target at 119,000/119,500; Short above 120,000 looking for a 1,000-2,000 point pullback. ETH: Long at 4,300/4,260, target at 4,360/4,400; For a more conservative approach, wait for around 4,170 to go long.

The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!

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