August 4th Morning Analysis Brief:
Macroeconomic News:
The market is overall stable, with no major news. However, Trump's dismissal of officials and nomination of new candidates for the Federal Reserve positions has raised concerns about data reliability and the independence of the Federal Reserve. It is advisable to pay attention to market trends and be aware of potential risks.
Bitcoin $BTC :
After a pullback yesterday, it rebounded to around 11400. The overall trend is weak, with a short-term recovery, but one should not let their guard down.
Technical pressure remains around 123290, with a downward trend, and event-driven market conditions should not be treated with conventional strategies.
Key areas to watch: Breakout range 115600-119900, main trend range 100000-110900.
The 4-hour chart shows a reversal signal, but the upward movement is unstable, with a risk of pullback. MACD golden cross, bullish momentum is still being released.
📌 Trading Suggestions:
Short Position: Enter short at 116000, stop loss at 116500, target 114500-115300.
Ethereum $ETH :
In a technical rebound, not fully in place yet. 3550 is an important resistance level.
The structure has not been damaged, and stabilization at 3353 may support further upward movement, targeting 3700.
The 4-hour chart builds an upward momentum platform, MACD golden cross, bullish momentum is being released.
📌 Trading Suggestions:
Short Position: Short at 3650, stop loss at 3667, target 3550-3580-3612.
Long Position: If it dips to around 3450, one may attempt to go long, stop loss at 3420, target 3550.
