The cryptocurrency world 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 8.17 (Written at 09:30) BTC Market Analysis and Trading Suggestions:
Bitcoin has been consolidating since yesterday, and the 500-point range fluctuations are indeed quite exhausting. If the short-term entry point is not good, it is better to watch more and act less. The monthly chart shows Bitcoin evolving from a bullish candle to a doji star pattern. Although we cannot say that Bitcoin has reached a top signal, it is clear that there is significant resistance above. From the weekly and daily charts, the downward extension trend of Bitcoin is becoming more apparent. If this weak trend continues during the day, the probability of further downward extension is very high. Focus on the resistance above 118,000 during the day.
BTC Trading Suggestions:
It is recommended to short near the rebound at 117,700-118,000, with a target of 117,000-116,000. If it breaks down, continue to look down, with a stop loss at 118,500.
Liquidity has dried up, and Ethereum has not been spared. The Bollinger Bands on the 4-hour chart are continuously narrowing, and the MA5 and MA10 moving averages are slowing down. Overall, the market's wait-and-see sentiment is very strong. From a technical perspective, Ethereum is short-term bearish, but the key support level below has not been broken. If it stabilizes later, there is still a chance for a counterattack. During the day, Ethereum needs to show increased volume, and the short-term view remains bearish.
ETH Trading Suggestions:
It is recommended to short near the rebound at 4,450-4,500, with a target of 4,380-4,300. If it breaks down, continue to reduce positions and look down, with a stop loss at 4,530.
This is a personal opinion for reference only. Market conditions may change, and specific strategies should be based on real-time analysis!
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 profits and losses!
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