Zhou Yanling: How to Resolve the Short Position Trapped by the Surge of Ethereum on August 10? Bitcoin Trend Prediction and Analysis for Next Week and Trading Strategy
This week's market has maintained a strong upward trend overall, especially with Ethereum's outstanding performance. Those who have consistently held long positions are likely to reap significant rewards. Currently, Ethereum is in a continuous bullish pattern on both the weekly and daily charts, supported by short-term moving averages, and the bullish trend remains relatively intact. From the current trend, it is very likely that the bulls will continue to rise next week. In terms of operations, the overall direction for Ethereum can continue to maintain the momentum of buying on dips, but short-term attention should be paid to the risk of pullback adjustments.
As Zhou Yanling anticipated, Bitcoin is attacking around 120,000. In the short term over the weekend, it is temporarily facing technical resistance, currently pressured by 119,000. However, the overall market sentiment remains bullish, mainly because this round of upward momentum has not yet fully played out. From the 4-hour analysis, the short-term support below will continue to hold around 116,000, while the short-term resistance above is at the 120,000 psychological level. In terms of operations, continue to focus on buying on dips.
Zhou Yanling's Bitcoin Trading Strategy on August 10:
Buy at 116,600-117,400, stop loss below 115,500, target 119,000-120,000
Sell at 120,800-120,000, stop loss below 121,800, target 118,700-117,800
Zhou Yanling's Ethereum Trading Strategy on August 10:
Buy at 4,150-4,200, stop loss below 4,100, target 4,380-4,430
Light short at 4,460-4,420, stop loss above 4,500, target 4,340-4,300
[The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, focusing on capital management and risk control. His trading style is steady and decisive, recognized by many investment friends for his easygoing and responsible character combined with sharp and decisive operations.
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