The cryptocurrency market 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 on August 12 (Written at 11:30): BTC Market Analysis and Trading Suggestions:
Bitcoin had a brief surge yesterday, with the price returning to around 119,000. This false breakout indeed caused quite a stir in the market, with all long positions above 120,000 being buried. The bullish trend from yesterday was interrupted, and the market has once again entered the previous consolidation range. Looking at the weekly chart, Bitcoin has formed a long upper shadow, indicating significant selling pressure above 120,000. The larger cycle shows signs of a potential top. On the 4-hour chart, Bitcoin is weakly adjusting downwards, with the MACD fast and slow lines crossing downwards, while short positions are starting to increase, suggesting that the market may continue to seek a bottom. The daytime strategy suggests that it is advisable to sell on rebounds at high levels.
BTC Trading Suggestions:
It is recommended to sell on rebounds around 119,500-120,000, with a target of 118,500-118,000. If it breaks down, continue to look down, with a stop loss at 120,200.
Ethereum's price movement over the past two days has shown no clear pattern, mainly fluctuating widely around the 4,150-4,400 range. On the weekly chart, Ethereum has formed a high-position doji, indicating that the previously strong bullish sentiment is gradually receding, which means Ethereum is transitioning from a strong trend to a consolidation phase. Everyone needs to adapt to the market direction and should avoid chasing highs and cutting losses. The 4-hour chart shows repeated sharp rises and falls, indicating a divergence between bulls and bears. Technically, the MACD indicator is still in an overbought state, suggesting a short-term need for a pullback. During the day, attention should be paid to the strength of the pullback and the support situation around 4,150. The short-term strategy is to sell high and buy low.
ETH Trading Suggestions:
It is recommended to sell in batches on rebounds at 4,330-4,350, with a target of 4,250-4,200. If it breaks down, continue to reduce positions upwards, with a stop loss at 4,380.
The strategies in this article may have a time lag and are for reference only. Please view them rationally, and you bear the risk of profit and loss!
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