Crypto Circle Academician: On August 11, Bitcoin is bullish in the short term but hides a fatal pullback! Ethereum's four-hour top divergence alarm!
Bitcoin
Current price of Bitcoin is 118750. It is now 1 AM Beijing time. The southward defense at 117350 has pushed the average price to 118000, and finally sold at 117650. After several days of southward movement, the main force could not withstand this round of pullback. The next southward point is above 120000. Currently, all short-term indicators are bullish, but considering the overall market and historical data, the levels are too high. Therefore, my advice is not to chase the rise, wait for obvious resistance before trying to short. If correct, the target is 5000 to 10000 points; if wrong, exit with a small loss without holding positions. Try a few times, and if correct, don't rush to exit. The essence of trading is survival; first survive, then think about profits.
Trend Reference: Focus on southward trend positions
Northward trial position: 115000 to 114500, defense at 114000, stop loss at 500 points, target looking at 115500 to 116000, breaking through looking at 117000 to 117500
Southward trial position: 120000 to 120500, defense at 121000, stop loss at 500 points, target looking at 118500 to 117500, breaking through looking at 116500 to 115500
Ethereum
Current price of Ethereum is 4235. It is now 1 AM Beijing time. This wave has a southward target of 4200 with a 100-point closure at 4300. Some friends say it was sold too early; don’t rush, the main force's divergence hasn't ended, and there’s still a chance to surge. Originally, it’s about seizing opportunities. The main force encountered resistance for the first time at 4330 and could only enter southward quickly. The daily K-line technical indicators show a bullish trend overall, with the K-line retracing to the upper Bollinger band support at 4190 showing strong bullish momentum. The four-hour K-line indicators show a clear top divergence, with upper pressure focusing on 4370 and support falling back to 4000. Daily support focuses on 4150, with the trend showing that pullbacks are mainly bullish, with shorts as a supplement.
Short-term Reference: Always set a stop loss; safety first.
Southward trial position: 4350 to 4400, defense at 4450, stop loss at 40 points, target looking at 4300 to 4250, breaking through looking at 4200 to 4150.
Northward trial position: 4150 to 4100, defense at 4050, stop loss at 40 points, target looking at 4200 to 4250, breaking through looking at 4300 to 4350.
Specific operations should be based on real-time market data. For more information, you can consult the author. Suggestions are for reference only; risks are borne by yourself.
