Market Analysis

Entering August, the market has become active. Yesterday morning, there was a waterfall-like decline in the market, with Ethereum testing the 1808 support level and Bitcoin testing the 28500 level. In the afternoon and evening, during the live broadcast explaining the weekly and monthly trends, a clear strategy was given. The recent market has broken through key levels, and whether the trend of the channel can change depends on the weekly trend. In the process of choosing the direction, the key factors are whether the trading volume increases and whether it can drive the market, becoming the lifeline of the future market!

Yesterday afternoon, it was suggested that the market would exceed expectations, with half of the trading volume in the morning session and the other half waiting to enter the market. This will also bring corresponding price fluctuations. Today, the market has shown a strong V-shaped rebound, proving that the main force is once again supporting the market. The expected rise in the market has not met the requirements of the main force. The pullback, V-shaped rebound, and other operating methods are still for better market manipulation. If the weekly trend can continue the current trend, the entire market will present a new round of upward trend, as stated yesterday, with Ethereum facing pressure at the 1940 monthly level and Bitcoin at the 32000 monthly level.

For Ethereum today, the key support level to focus on is 1850-1860. It is recommended to go long within the retracement range, with a stop loss at 1830 and a target of 1880-1900.

Bitcoin has broken through the previous consolidation platform ahead of time. The main focus is on the mid-term support near 29500. It is advisable to go long, with a stop loss at 29200 and a target of 30000-303000.

Last night, after the opening of the US stock market, there was a deep needle-like movement in the market, followed by a rapid rebound. The internal market mechanism indicates that the main force is washing out and clearing obstacles, catching retail investors off guard. Even if the main force provides a pause, retail investors are still hesitant to enter the market, and the bearish mindset has not changed. This reflects that the losing retail investors are all present, while the profitable ones have perfectly avoided the situation!

To understand the internal market mechanism, adopt the mindset of the main force, and integrate into market behavior, scan the QR code on the public account:

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