Analysis of Bitcoin and Ethereum in the Early Morning of August 6

Overnight, U.S. stocks opened high and then fell, leading to a quick reversal in market sentiment, which put short-term pressure on cryptocurrencies and disrupted Bitcoin's previous rebound rhythm. It is expected that in the first half of the early morning today, the market still needs to go through a process of downward testing and bottoming out, especially the 112000 level for Bitcoin, which has only been tested once, making its support relatively weak and requiring close attention.

Currently, Bitcoin is operating around 112700. Although the rhythm is slow, it has not deviated from the bullish structure and is overall in a stage of oscillation and repair. Short-term pullbacks should be viewed as opportunities rather than risks, with the core focus being whether the key support levels can be maintained.

- Bitcoin: Focus on the support strength in the 112550 to 112000 range. If the support holds, consider positioning for long positions. The initial rebound target is to observe the breakthrough at 114000; if it holds, further targets can be set for the 115500-116000 range.

- Ethereum: Consider going long on pullbacks to the 3510 and 3460 levels, with rebound targets aimed at 3595-3645. If strong performance continues, there is a possibility of reaching the high of 3730.