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 11 (Written at 06:30) BTC Market Analysis and Trading Suggestions:
Bitcoin has changed its previous downward trend, with prices continuously rising to test the upper support. After a brief pause around 118,000 in the early morning, Bitcoin is currently challenging the resistance at the 119,000 level. Both the monthly and weekly charts show signs of Bitcoin aiming for previous highs, and bullish sentiment is gradually returning. On the daily chart, Bitcoin has completed a V-shaped reversal, and the MACD indicator has finished adjusting and is starting to shift towards bullish. The overall direction remains positive. However, on the 4-hour chart, Bitcoin has a risk of divergence. If there is no strong volume increase during the day, the risk of a pullback after a rise is significantly increased. During the day, pay attention to the resistance in the range of 119,000-120,000.
BTC Trading Suggestions:
It is recommended to short near 119,500-120,000, with a target of 118,500-118,000. If it breaks down, continue to look lower, with a stop loss at 120,200.
With bullish sentiment for Ethereum rising, the main force has reluctantly hit the brakes, causing Ethereum to continuously form long upper shadows above 4,300. The market has begun to oscillate at high levels. The bullish outlook for Ethereum on a larger scale remains intact, but as prices continue to rise, the volatility of Ethereum will also increase. Everyone needs to be mentally prepared. On the 4-hour chart, Ethereum's momentum is starting to shift towards bearish, and the MACD fast and slow lines have crossed downwards. Ethereum still has a need for a pullback adjustment in the short term. As long as the price does not break below the 4,100 level and disrupt the upward channel, there is still an opportunity for bulls to push against the tide.
ETH Trading Suggestions:
It is recommended to buy in batches on a pullback to 4,100-4,150, with a target of 4,250-4,300. If it breaks, continue to reduce positions and look higher, with a stop loss at 4,050.
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 risks of gains and losses!
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