Crypto Circle Academician: On August 10, Bitcoin experienced intense fluctuations. Is it building a top or is it about to explode? Ethereum's 'Long Rainbow in the Sky'! The main force continues to have deep control, and the pullback is just for a stronger wave!
The current price of Bitcoin is 116,750. It is currently 1 AM Beijing time. The defense at 117,700 has been breached, with the average price rising from yesterday's 116,900 to the current 117,350. The market has only broken through the previous fluctuation high and is still fluctuating back. Short-term indicators show a significant weakening of bullish momentum, and the main force is also experiencing selling pressure. Overall, the trend is primarily focused on high-position shorts, exploring support at 116,000 before considering moving north. Continuing to hold short as long as there are no forced exits; for now, there is no consideration for moving north unless the bulls initiate and the trend allows for long positions. Before that, the focus is on moving south. Remember to deduct the average price from future added positions and leave the foundational south position.
Short-term reference
Northward trial point at 115,000 to 114,500, defense at 114,000, stop loss at 500 points, target looking at 115,500 to 116,000, breaking point looking at 117,000.
Southward trial point at 117,350 to 117,700, defense at 118,300, stop loss at 500 points, target looking at 116,300 to 115,800, breaking point looking at 115,400.
Ethereum
The current price of Ethereum is 4,210. It is currently 1 AM Beijing time. After exiting the market with no positions the day before yesterday, I choose to temporarily stay out of the market, neither chasing highs nor cutting losses. I hope my followers make a big profit after this wave. For those who haven't made a significant profit, I hope your holdings are still intact. My trading habit is to prioritize survival, followed by profit. The market trend is clearly an upward trend, with bulls dominating in the short term. The four-hour chart has consistently stayed high, and the trend indicator EMA is in a bullish arrangement, coupled with the main force continuously increasing holdings, pushing prices upward. This is a time of high control by the main force, and the best strategy for retail investors is to stay out and observe. There will be opportunities to enter the market, so don't rush. Either wait for a pullback to encounter clear support for long positions or wait for the bulls to exhaust and form effective resistance. Until then, do not enter the market blindly.
Short-term reference
Southward trial point at 4,350 to 4,400, defense at 4,450, stop loss at 40 points, target looking at 4,300 to 4,250, breaking point looking at 4,200.
Northward trial point at 4,150 to 4,100, defense at 4,050, stop loss at 40 points, target looking at 4,200 to 4,250, breaking point looking at 4,300.
The suggestions are for reference only, and the risks are borne by yourself.