Analyst Chen Shu: Continuing to be bearish on the downward continuation on August 22, midday analysis and strategy for Bitcoin and Ethereum

From the daily chart, Bitcoin's performance yesterday, as analyzed, broke below the 11.2 support and then recovered. The short-term rebound is weak, and the daily lows are continuously declining. The short-term bearish trend has not ended. The current rebound is judged as a downward continuation, with a key short-term resistance level at 11.48. On the hourly level, the short-term resistance level to watch is around 11.34. If the price cannot stabilize above the resistance level, it will be difficult for the bulls to gain momentum. Recently, the price has frequently tested the key support at 11.2, and I expect it will completely break below this level soon.

From the daily chart, Ethereum's rebound is currently stronger compared to Bitcoin's weak rebound. The downward pressure from the bears is very limited. The daily chart is currently oscillating in the range of 4380-4250. The key short-term resistance level remains at 4380. Until this level is broken and stabilized, I will maintain the previous two days' analysis and treat the rebound as an opportunity to short. For pullbacks, watch 4130/4030.

Midday trading strategy (written at 16:00):

BTC: Short at 11.33, add to short at 11.4 on the rebound, target 11.2. If it breaks, reduce positions and hold for a target of 11.06; try to go long near 11.05 with a small stop loss, aiming for a 1-2000 point rebound.

ETH: Short at the current price of 4330, add to short at 4400 on the rebound, target 4130/4030; look to go long near 4000 for a 100 point rebound.

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