8.12 Market Analysis: Bitcoin's Second High Point Has Been Reached, Short-Term Adjustment Period Begins

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丁君羡
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8 hours ago

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BTC: Bitcoin reached a high of 122,300 yesterday. Although the daily chart closed with an inverted hammer candlestick, the overall bullish structure has not completely deteriorated and is still within a secondary upward trend line. Short-term support is around 118,000; if this level is broken, it may lead to an accelerated decline, with strong support around 116,000.

ETH: 4,160 is a very strong support area, and yesterday it provided an entry point for long positions. After reaching a high of 4,368 in the early morning, the price began to decline. During the day, this position needs to rebound for correction, and the key is whether the resistance above 4,300 can be effectively broken and stabilized.

For more explanations, please patiently watch the video. If you have any questions, you can follow the public account: Ding Junxian.

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