Technology is becoming simpler, and the mindset is gradually becoming simpler. Now is the time to wait, to dare to pursue, to dare to stop loss, and to make a profit. The process of implementing the rules of the currency market is also a process of convincing oneself, constantly persuading oneself to become better. The cultivation of human nature begins with stop-loss and take-profit. Willing to accept losses and confidently win. Trading is a process of solving various psychological barriers brought by investment and reshaping one's behavior.

Market Review:

Since early Friday morning last week, the market of Bitcoin and Ethereum has basically been in a sideways shock structure, and the price fluctuations have not been significant. It wasn't until early this morning that the market showed some improvement, but the fluctuation of Ethereum seems to be slightly larger compared to Bitcoin. Bitcoin surged to 29471 in the early morning and then fell back, reaching a low of 29300. Currently, the rhythm is still in a box shock, with no significant fluctuation, accompanied by washing actions. The high and low points have not been broken through. With the rhythm of the cycle of yin and yang, what we need to do is still to trade at specific points and times. The weekly level is still stabilizing above the moving average. For the bulls, there is still upward momentum.

Market Analysis:

From a technical perspective, the four-hour chart still maintains a range-bound oscillation, with back and forth movements between long and short positions. After consecutive declines, there is a small positive correction and adjustment. The critical point near 29550 is the critical point in the short term. As long as the critical point is not broken, the short-term repeated migration is still weak. The step-by-step reversal is common in the oscillation back and forth, and currently, we need to wait for the magnitude of the market correction. The Bollinger Bands are opening up, with the candlesticks running below the lower track, and the bearish volume is running with increased volume. The KDJ three lines are showing a death cross downward, and the retracement has not broken the range, still oscillating within the box. Overall, the upper suppression is strong, with the high point gradually moving down. Although there is a short-term upward trend, if the bulls cannot stabilize, the market will continue to pull back. The key focus is on the resistance at 29600. If not broken, the bearish trend will continue. The suggested strategy for the day is mainly short and secondarily long, with upper resistance at 29600-29800 and lower support at 29000-28800.

After Ethereum tested the 1860 level in the midnight and then retraced to 1830, it is currently oscillating around 1840. On the four-hour chart, after two consecutive days of narrow corrections, it made a small high and then fell back, but it still maintains a oscillating pattern overall, making it difficult to show a strong continuation. Currently, the Bollinger Bands on the four-hour chart are gradually opening up. The focus for the day is on the stability around the 1850 level. The upward rebound has caused a slightly bearish pattern, but the downside space is also limited, making it not easy to excessively short. The suggested strategy for the day is to mainly maintain a long position.

Trading Recommendations: (Published on: 2023.8.14 11:30)

BTC: Long in the 29000-29200 range, with a target of 29600-29800. Stop loss below 28800.

ETH: Long in the 1815-1825 range, with a target of 1860-1880. Stop loss below 1800.

Disclaimer:

The market changes rapidly, and the market fluctuates quickly. Personal opinions and suggestions are not real-time and are for reference only. If there are no specific positions, stay out of the market and wait. Friends who are unsure about entry points can follow the official account below to get real-time positions based on the market conditions.

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