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 on August 15 (Written at 09:30) BTC Market Analysis and Trading Suggestions:
Last night, after the initial unemployment claims data was released, Bitcoin accelerated its decline until it stabilized around 117,000 in the early morning. The bearish trend began to noticeably slow down. From a monthly perspective, although Bitcoin's short-term rise is hindered, the focus is still continuously shifting upward, and the overall trend remains unchanged. The 4-hour chart showed signs of divergence for Bitcoin earlier, and this pullback aligns with the need for technical adjustments. Currently, the price has just retraced to the 50% Fibonacci level. If it stabilizes during the day, there is still a chance to fill the gap from yesterday's decline. Key support to watch during the day is around 116,500.
BTC Trading Suggestions:
It is recommended to buy on the pullback near 117,500-117,800, with a target of 119,000-120,000. If there is a strong breakout, continue to look upward, with a stop loss at 116,500.
In the morning, Ethereum tested support multiple times around the 4,500 level. Currently, the price is oscillating in a small range above 4,500. On the daily chart, Ethereum has only recaptured the gains from the day before yesterday, and the pullback space is not as obvious as Bitcoin's. The upward momentum remains strong. The 4-hour chart shows that Ethereum has been closing with long lower shadows, indicating that there is buying interest below. The bearish momentum in the auxiliary indicators is beginning to peak. If Ethereum can stabilize during the day, a shift between bulls and bears could occur at any time. The morning strategy is to focus on buying on the pullback.
ETH Trading Suggestions:
It is recommended to buy in batches on the pullback near 4,500-4,530, with a target of 4,600-4,700. If it breaks, continue to reduce positions and look upward, with a stop loss at 4,450.
The strategies in this article may have a time lag and are for reference only. Please view them rationally, and you are responsible for your own profits and losses!
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