Hello everyone! Let's first talk about the fluctuations in the overnight market! Today (August 20), the market experienced a sharp volatility in the early hours, clearly warming up for the upcoming release of the Federal Reserve's meeting minutes. Trump has also spoken out again, pressuring the Federal Reserve to significantly cut interest rates—this series of news factors is worth everyone's close attention.
In terms of market trends, the overall movement is basically consistent with our previous predictions: Bitcoin is once again testing the key support level of 112,500, Ethereum has also retreated to around 4,060 as expected, and gold has simultaneously dipped to around 3,310. From a structural perspective, the downward rhythm formed since the high point of 124,500 is already very clear, but it is still too early to say that this downward wave has ended.
On the technical side of Bitcoin, there are key points to note: in the 4-hour cycle, multiple small candlesticks are continuously operating near the lower track of the third line, and a "structural three sell" signal has appeared, which may further push the price below 111,800. Everyone is asking: "Will the 100,000 era come?" Currently, the long and short positions are still in a stalemate, and the outcome is yet to be seen. The MACD shows that the fast and slow lines have crossed below the zero axis; although the fast line has shown short-term support, there is still space from the zero axis; the momentum bars have shown divergence signals, which is particularly noteworthy.
Two sets of strategies are provided for operations:
Long positions can be lightly entered around 112,700, with a stop loss at 112,200 and a target of 113,500-115,200. If it breaks above, continue to look towards 116,700;
Short positions can be set up around the rebound to 115,300, with a stop loss at 115,700 and a target of 113,000-114,000. If it breaks below, look towards 111,850.
Regarding Ethereum, the structural decline has once again broken down, with the retreat from 4,160 to 4,050 forming the "right leg" of the 2B rule. There may be a short-term warming action driven by events. However, it is important to note that after a narrow fluctuation of multiple candlesticks in the 4-hour chart, it has broken down, and bullish sentiment is under pressure. After the rebound, there is still expected downward pressure. If the 4,000 level is lost, the next target can be around 3,850. The MACD fast and slow lines have broken below the zero axis; although the momentum bars have shrunk, the divergence signal has not yet been confirmed by the market.
Ethereum operation suggestions:
A light long position can be taken near 4,070, with a stop loss at 4,053 and a target of 4,130-4,185. If it breaks above, look towards 4,230;
A short position can be set near 4,230, with a stop loss at 4,247 and a target of 4,130-4,000. If it breaks below, look towards 3,890-3,930.
Finally, it must be emphasized: always use a stop loss when opening a position; do not open a position without a stop loss! If you encounter difficulties such as being stuck in a position, the market carries risks, and the strategies are for reference only. Wishing everyone a successful trading day today!
For more strategies, you can follow the public account: KK Communication
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