Crypto Circle Academician: On August 17, Bitcoin and Ethereum shorts are rampant. Should we buy the dip? Let's wait a moment! Latest market analysis and reference suggestions.

CN
2 hours ago

The essence of trading is survival, and only then comes profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to develop a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from the crypto circle scholars may not make you rich overnight, they can help you stay in the game. Only those who survive in the crypto space for the long term and persist until the end can achieve the results they desire. I hope you understand.

Don't forget, the darkest moments are often just before dawn. On the road to pursuing your dreams, you are never alone; you still have me.

I am a warrior in the crypto circle, always protecting the retail investors. I wish my fans financial freedom by 2025. Let's work hard together!

Crypto Circle Scholar: Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 117,600. It is now 1:30 AM Beijing time, and the market has returned to where it was when the report was published yesterday. With the weekend, the main players are popping champagne after a wave of liquidations. We can say we have also benefited from this wave. Without discussing the previous market, let's look at the current order book. The daily K-line is currently fluctuating within a narrow range in the trend indicator, facing resistance at the EMA30 trend support of 116,800. The focus remains on the bearish trend, with key support at 113,750. If it holds, a rebound may occur; if it doesn't, it will continue to decline. The four-hour K-line shows a descending volume, with short-term upward movement facing resistance at the upper pressure level of 118,000. The bears are continuously accumulating, while the bulls are weak. Be defensive and pay attention to the Bollinger Band middle track pressure level of 119,200. If it breaks, the trend remains bearish.

Short-term reference: Small losses and big gains are the goal.

For a downward move from 113,000 to 112,500, defend at 112,000, with a stop loss of 500 points. The target is 114,500 to 115,000, and if broken, look at 115,500 to 116,000.

For an upward move from 118,500 to 119,000, defend at 119,500, with a stop loss of 500 points. The target is 117,500 to 117,000, and if broken, look at 116,500 to 116,000.

Crypto Circle Scholar: Ethereum (ETH) Latest Market Analysis Reference

The current price of Ethereum is 4,400. It is now 1:30 AM Beijing time, and the daily line continues to trend bearish. The EMA trend indicator is still struggling to pull up, with EMA15 reaching 4,200. Overall, the short-term bearish trend is inevitable. The probability of a pullback before the bears finish is very low. According to the trend, it needs to test the key supports of 4,200 and 4,000 before the main players will pull back. The four-hour K-line trend support is at 4,200 and 4,065. The MACD shows reduced volume, and the K-line has not pulled up. The two-level weathering formed by DIF and DEA has led to the market entering an extremely narrow stage in the short term. Pay attention to the upper pressure level of 4,550; if it doesn't break the Bollinger Band middle track, consider continuing to move south. If it breaks, stop loss and move north.

Short-term reference: Always set a stop loss; safety first.

For a downward trial point from 4,500 to 4,550, defend at 4,600, with a stop loss of 40 points. The target is 4,450 to 4,400, and if broken, look at 4,350 to 4,300.

For an upward trial point from 4,200 to 4,150, defend at 4,100, with a stop loss of 40 points. The target is 4,300 to 4,350, and if broken, look at 4,400 to 4,450.

Specific operations should be based on real-time data from the order book. For more information, you can consult the author. There may be delays in article publication; the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the Crypto Circle Scholar and represents the scholar's unique viewpoint. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above viewpoints and suggestions may not be real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Control your positions reasonably when trading, and avoid heavy or full positions. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should summarize where the problem lies. Don't let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend comes, respond and follow it; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success comes from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often happen unexpectedly. Develop the habit of strictly setting stop losses and take profits for each trade. The Crypto Circle Scholar wishes you happy investing!

Warm reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully. Thank you for reading.

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