Preface: Investment carries risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
Article writing time: August 27, 12:24 PM Beijing Time
Market Information
- The advancement of U.S. cryptocurrency policy may be affected by Senator Warner's resistance;
- Trump plans to nominate Milan and Malpass as Federal Reserve governors;
- Trump warns of an "economic war" against Russia while accusing Ukraine of being "not innocent";
- Federal Reserve's Barkin: Moderate economic performance may lead to mild interest rate adjustments;
- Deutsche Bank: The Federal Reserve faces multiple challenges, limiting the rebound potential of the dollar;
Market Review
Yesterday, Bitcoin experienced fluctuations during the day and saw a slight rise in the evening, reaching a peak at 112330. Ethereum also saw a slight rebound yesterday, with a high point at 4641. It is still in a bearish trend, and the rebound presents a shorting opportunity;
Market Analysis
Yesterday, we recommended entering short positions around 111500. The current price is near the entry cost, so hold the position as per yesterday's plan. Although Bitcoin has shown a short-term rebound, it has not broken through the 113000 level. This level was previously a support level, which has now turned into resistance. The overall trend of Bitcoin remains unchanged and is still strongly bearish. For those who have entered, hold your positions; for those who have not, you can enter at the current price. According to yesterday's strategy, add to positions at 112500, with a stop loss at 114000 and a target in the 108000-107000 range. Manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses;
Ethereum
For Ethereum, we planned to enter around 4510 yesterday, but the rebound was stronger than Bitcoin, directly rising to 4641, resulting in losses for short positions. Looking at the 4-hour chart for Ethereum, this short-term decline did not reach the lower support near 4250 before rebounding. The upper resistance level for the rebound is around 4820, leaving about 200 points of space. For short-term trading, it is advisable to wait for the market to rebound before planning to short. The recommended entry position is around 4800, with a stop loss at 4900 and a target in the 4500-4420 range. Manage your entry opportunities accordingly; for short-term trading, control risks and manage your own profits and losses;
In summary:
Although Bitcoin has shown a short-term rebound, it has not broken the bearish trend, and the rebound presents a shorting opportunity;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cups." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto world.
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