Market Viewpoint on August 6
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Summary: Bullish Outlook for BTC
1 Break above 115800, form a clear 30-minute buy signal if it does not break new lows, go long
2 If it breaks below 111850, then pulls back to 111850 to form a false breakdown for a 2B buy
ETH 30-minute bottom V reversal, key neckline around 3520, consider going long if it stabilizes above the 60 moving average on the 1-hour chart, follow the major trend
Be aware, if BTC breaks new lows and quickly pulls back, ETH may not necessarily break new lows. ETH rebounds stronger than BTC
For ETH, it needs to stabilize above the 60 moving average on both the 1-hour and 4-hour charts to consider going long, and also pay attention to the strength because 3736 is a potential 2 sell on the 4-hour chart. If this point cannot be effectively broken, we cannot rule out the suspicion of a false breakout.
Currently, I am in a cash position