Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: August 20, 14:45 Beijing time
Market Information
- The net outflow of spot BTC ETF yesterday reached a new high in nearly a week;
- U.S. SEC Chairman: Only a small portion of cryptocurrency tokens should be considered securities;
- Traders bet on a significant interest rate cut by the Federal Reserve next month;
- The Federal Reserve may accelerate interest rate cuts after Powell's term ends, with tariff costs possibly passed on to consumers;
- Goldman Sachs' Chief Strategist is optimistic about five-year U.S. Treasury bonds, expecting a 25 basis point rate cut by the Federal Reserve in September;
Market Review
Bitcoin is currently in a continuous downtrend, having tested around 114600 twice without a valid rebound. As of now, the lowest point is at 112500. Ethereum's current low is at 4060, testing support around 4100. In the future, we need to pay attention to Bitcoin's continued decline.
Market Analysis
Bitcoin
From the daily chart, after Bitcoin fell to around 114600, it provided a slight rebound opportunity, with the daily line showing a long lower shadow. However, the rebound strength was insufficient, with the highest rebound point at 116938. The long positions we set up around 114600 had a maximum gain of about 2300 points. Those who exited in time still made some profit, while those who did not take protective measures only faced a small loss of around 1600 points, which is not a big issue. Currently, Bitcoin's trend is strongly bearish, with the daily line showing a large bearish candle and breaking below the 4-hour support at 114600. In the future, we need to focus on the defense at the lower point of 111850. The larger weekly and monthly trends are currently bearish, but there are still many uncertainties before the closing confirmation. In the short term, both the daily and 4-hour charts have not provided strong bullish signals, making the chances of a short position during the rebound greater. In trading, everyone can set up positions around the previous support as resistance, recommending an entry point near 114600, with a stop loss at 116000 and a target of 112000-111000. If it breaks below the short-term low of 111850, you can continue to hold. If the daily line effectively breaks below the low of 111850, it will likely move towards 105000. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
Ethereum
From the 4-hour chart, Ethereum's overall trend is also leaning towards bearish. The downward movement has just tested around 4100. Our previous long position near 4100 did not hit the 4000 stop loss, and there is still a profit of over 80 points. However, since Bitcoin's trend is not very good, we will not look at the 4500 target here. Ethereum can exit above 4200. The overall trend on the 4-hour chart still leans towards bearish, with some pressure around 4240. After exiting long positions near 4200, you can set up short positions around 4240, with a stop loss at 4340 and a target of 4050-3900. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
In summary:
Bitcoin has broken support, and the trend leans towards bearish, so you can short on rallies.
The article is time-sensitive, pay attention to risks, the above is only personal advice, for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cup." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto circle.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
