The cryptocurrency market is full of opportunities and challenges. We need to maintain a clear mind at all times to avoid being influenced by short-term market fluctuations. It is inevitable to encounter some setbacks in the crypto space. We must understand that every difficulty we face is a stepping stone towards success. We should learn to view problems with a long-term perspective; without taking small steps, we cannot reach great distances. The road to success is destined to be winding and long!
Feiran's Cryptocurrency Analysis on 8.18 (Written at 16:30) BTC Market Analysis and Trading Suggestions:
This morning, Bitcoin experienced a sharp drop that broke the weekend's consolidation range, with prices falling to around 115,000 points before the bearish trend began to slow down. A series of declines in recent days has fundamentally changed the monthly and weekly cycles. The market's whispers of a peak have also intensified retail investors' panic. From a weekly perspective, Bitcoin's Bollinger Bands are narrowing, the MA5 moving average is turning down, showing signs of a death cross, and the auxiliary indicators are about to cross bearishly. The technical outlook is gradually shifting towards bearish. On the 4-hour chart, Bitcoin has strongly broken below the 618 and 116,000 psychological levels, indicating that short-term bears are completely dominant. This wave of decline has exceeded the scope of a correction. If Bitcoin shows a decent rebound this evening, it is advisable to look for short positions.
BTC Trading Suggestions:
It is recommended to short around 115,500-116,000, with a target of 115,000-114,000. If it breaks down, continue to look lower, with a stop loss at 116,500.
With Bitcoin's lead, Ethereum has completed a head-and-shoulders pattern on the 4-hour chart. Currently, the price is hovering around 4,250. From the 4-hour perspective, a downward channel for Ethereum has formed, and with the middle Bollinger Band extending downwards, the bearish trend is unlikely to reverse in the short term. As mentioned this morning, if Ethereum cannot hold the 4,300 level, the decline will further expand. This evening, pay close attention to the pressure around 4,300; if it cannot break above, look for short positions.
ETH Trading Suggestions:
It is recommended to short around 4,290-4,310, with a target of 4,220-4,150. If it breaks down, continue to reduce positions and look lower, with a stop loss at 4,360.
These are personal views for reference only. Market conditions may change, and specific strategies should be based on real-time analysis!
The strategies in this article may have a time lag and are for reference only. Please view them rationally, and you bear the risks of profits and losses!
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