Article editing time August 7, 2023, 13:10 in the afternoon, all views do not constitute any investment advice! For learning and communication only.

Bitcoin reached a high near 29205 yesterday and a low near 28990. Last Friday evening, the United States released non-farm payroll data, showing a slowdown in the US labor market, but steady wage growth and a decrease in the unemployment rate, indicating that the possibility of further tightening of monetary policy by the Federal Reserve cannot be ruled out. The data had almost no impact on the market after its release. The fluctuation of Bitcoin over the weekend has basically shrunk to the extreme, with a range of only over 100 points. This is still due to the recent scarcity of market liquidity, which leaves little room for operation under such fluctuations. Currently, Bitcoin is in the process of choosing a direction, and it is advisable to patiently wait for the market to choose a direction.

On the daily chart, a small bullish candle was formed yesterday, with the Bollinger Bands trending downward, supported by the lower Bollinger Band at 28800, and the MACD volume is weak. On the 4-hour chart, the Bollinger Bands are running parallel, suppressed by the upper Bollinger Band at 29250. In terms of operation, 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 for each. The market changes are diverse, and real-time strategies should be the main focus for specific operations.

Ethereum reached a high near 1838 and a low near 1825 yesterday. The volatility of Ethereum over the weekend remains low, with little room for operation. Compared to Bitcoin, its volatility is slightly higher, but overall it is still in a converging state, and it is advisable to patiently wait for the market to choose a direction.

On the daily chart, a small bearish candle was formed yesterday, with the Bollinger Bands trending downward, supported by the lower Bollinger Band at 1820. On the 4-hour chart, the Bollinger Bands are running parallel, suppressed by the lower Bollinger Band at 1840. In terms of operation, it is recommended to go long with a light position near 1820 on a pullback, with a target of 1850-1860. A light short position can be taken near 1870, with a target of 1830-1800, and a stop loss of 25 points for each. The market changes are diverse, and real-time strategies should be the main focus for specific operations.

Disclaimer: The above content is for personal views only, and the strategies are for reference only and should not be used as a basis for investment. Follow at your own risk.

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