Zhou Yanling: 8.20 Bitcoin and Ethereum Latest Trend Prediction Analysis and Trading Strategy
Don't look for reversals, don't look for continuations; this week's short trades are relatively easy. If you hold onto trades for too long, you will gradually get trapped in the mindset of the main players, which is certain. You will start predicting the market and even unconditionally believe in your predictions. Just like Bitcoin now, it has been pressured down since last week, with each new low aimed at washing out long positions before rebounding, a typical setup for a significant rise. However, you cannot prematurely judge the arrival of this significant rise; you must wait for this wave of pullback to finish. Next, pay close attention to the key support level around 112000, which was the last point of upward movement. This time, the pullback is expected to test the strength of this level again.
Currently, the daily chart shows that prices have been falling continuously, forming a large bearish candle followed by a slight rebound, but overall it remains weak. The hourly chart shows multiple long upper shadows and small-bodied candles, indicating heavy selling pressure above. The hourly MACD histogram continues to stay below the zero line, and both DIF and DEA are diverging downwards, with bearish momentum prevailing. The hourly RSI is close to 30, entering the oversold zone, which may lead to a technical rebound; however, the daily RSI remains weak, and the trend has not reversed. The hourly EMA7, EMA30, and EMA120 are in a bearish arrangement, with the current price running below all moving averages, and EMA7 is exerting short-term pressure on the price. In terms of operations, Yanling believes that the focus should continue to be on short positions today.
Zhou Yanling's 8.20 Bitcoin Trading Strategy:
Short at 115500-114500, stop loss above 116500, target 113000-112000
Long at 112000-112800, stop loss below 111000, target 114000-114800
Zhou Yanling's 8.20 Ethereum Trading Strategy:
Short at 4250-4210, stop loss above 4300, target 4050-4000, continue to look for a downward move towards 3900
Long at 3900-3940, stop loss below 3850, target 4100-4150
【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 content 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 focusing on 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, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing yet responsible character and sharp, decisive operations.
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