Analyst Chen Shu: On August 13, Ethereum breaks new highs without indicating a top; midday analysis and strategy for Bitcoin and Ethereum.

From the daily chart, Bitcoin rebounded to a high of $120,000 yesterday before starting to pull back slightly. In the short term, we need to focus on whether it can hold above the $120,000 mark. The support level to watch is around $117,300. If it pulls back, we should still look to go long. On the 4-hour chart, there is clear pressure at $120,000, while the initial support below is at the MA30 daily moving average around $118,500. If it breaks below, we will look for support at $116,800/$115,500.

From the daily chart, Ethereum closed with a large bullish candle yesterday, with prices approaching the $4,700 high, just a step away from the historical high of $4,800. The probability of breaking above $4,800 is quite high. In the short term, we should first focus on support at $4,380/$4,260. Currently, no one can predict where the next high will be, so do not guess the top lightly. In terms of operations, it is not recommended to chase highs but rather to wait for a pullback to enter long positions. Midday operational thoughts (writing time: 15:00):

BTC: Long at $11,830, add to long on pullback at $11,730, target $11,900/$11,950

ETH: Long at $4,430, add to long on pullback at $4,260, target $4,500/$4,550

The daily analysis strategy has a very high win rate! Analysis is not easy, so 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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