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August 4, 2023, 1:45 PM. All opinions do not constitute any investment advice! For study and communication only.

Bitcoin reached a high near 29430 and a low near 28960 yesterday. Bitcoin showed a narrow range and oscillating trend yesterday, currently fluctuating around 29200, which is also a densely populated area for chips and requires time to consume. It is expected to continue to oscillate horizontally during the day. The volatility of Bitcoin in the near future can be said to be at a new low in nearly five years. In this situation, it often means that a major fluctuation will occur. Before a major fluctuation occurs, there is a high probability of a washout market first. Non-farm payroll data will be released tonight, which may cause fluctuations. Pay attention to risk prevention.

On the daily chart, a small doji star was formed yesterday, and the Bollinger Bands are in a converging position, suppressed by the middle rail at 29550. On the 4-hour chart, the Bollinger Bands are running parallel, supported by the lower rail at 28750. It is recommended to go long with a light position near 28500 on a pullback, with a target of 28900-29300. A light short position can be taken near 29500, with a target of 28700-28300, and a stop loss of 350 points each. The market changes are diverse, and specific operations should be based on real-time strategies.

Ethereum reached a high near 1860 and a low near 1826 yesterday. Ethereum showed small oscillations in a horizontal trend yesterday and is still in a descending triangle. It may break out of the convergence zone in the evening with the help of non-farm payroll data.

On the daily chart, a small doji star was formed yesterday, and it is still in a downward trend overall. The Bollinger Bands are in a converging position, suppressed by the middle rail at 1870. On the 4-hour chart, the Bollinger Bands are running downward with an open mouth, supported by the lower rail at 1820. It is recommended to go long with a light position near 1820 on a pullback, with a target of 1850-1870. A light short position can be taken near 1870, with a target of 1830-1800, and a stop loss of 25 points each. The market changes are diverse, and specific operations should be based on real-time strategies.

Disclaimer: The above content is for personal opinions only, and the strategy is for reference only and not as a basis for investment. Follow at your own risk.

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