Bitcoin is in a bearish trend, while Ethereum is in a bullish trend; be cautious when chasing prices! August 9 Bitcoin and Ethereum trading strategy

The United States and Russia are finalizing a so-called "peace agreement". According to this agreement, Russia's occupation of parts of Ukraine will be regarded as a fait accompli stemming from its military actions in February 2022, as revealed by individuals familiar with the matter in Ukraine. U.S. and Russian officials are drafting an agreement regarding territorial issues in preparation for the planned summit between President Trump and President Putin. Last night, Trump once again stated that tariffs have a huge and positive impact on U.S. stocks! This can also be confirmed, as many countries have signed a large number of trade orders with the U.S. As a result, U.S. stocks opened high and continued to rise, with the Nasdaq index surging nearly 1%. Last night's short positions were also reminded to exit across the board, making a small profit!

From a technical perspective, Bitcoin is bearish on the daily chart, while Ethereum is bullish, with completely different amplitudes. Since the introduction of the 401k plan into cryptocurrency, Bitcoin's price has not increased as much as Ethereum's. Conan believes that Bitcoin bulls are weak, and everyone should be cautious about chasing Ethereum, especially as Ethereum's price approaches previous highs; look for a pullback during the day! The resistance levels for Bitcoin are at 118,000, 1,189,000, and 1,195,000, while the support levels are at 115,500, 114,200, 113,300, and 112,600. The resistance levels for Ethereum are at 4,070, 4,110, and 4,200.

August 9 Bitcoin trading strategy: Aggressive traders should short on a rebound at 117,200-117,500, while conservative traders should enter at 118,000-118,500, with a stop-loss near 119,000. The target is set around 116,000-115,000-114,200, and if broken, adjust the stop-loss accordingly!

August 9 Ethereum trading strategy: Aggressive traders should short on a rebound at 4,030-4,060, while conservative traders should enter at 4,100-4,130, with a stop-loss near 4,200. The target is set around 3,930-3,900, and if broken, adjust the stop-loss accordingly!

Long position strategy: Buy one hand of Bitcoin on the first pullback at 113,000-113,500, with a stop-loss near 112,500. The target is set around 114,500-115,000, and if broken, adjust the stop-loss accordingly!

For Ethereum, buy one hand on a pullback during the day at 3,830-3,850, with a stop-loss near 3,800. The target is set around 3,900-3,930-3,950, and if broken, adjust the stop-loss accordingly!

Recently, Ethereum bulls have been making efforts, but Bitcoin's upward momentum is insufficient, so caution is necessary when chasing prices. Ethereum is quite volatile; everyone should avoid holding positions and prioritize risk control. Protecting the principal is the first step to having a chance to recover losses! #eth突破4000 #特朗普加密新政