08.11———Bitcoin and Ethereum Market Analysis
$BTC The large pie has been discussed before, as long as it goes above 118200, then the reversal officially begins
✅ Personally, I believe the reversal has already started. For those wanting to short, there is only one short opportunity, and it must be at a high above 120,000 to attempt; upper pressure is 120700-121700, if broken, look for 12.5-12.6, pull back to around 120,000 to continue long, aim for 130,000
✅ Currently focusing on low longs, if there is a pullback, 117400-116400 is a good entry point, aggressive traders can try at 118200, as long as it doesn’t drop below 115800, I do not think the reversal is over, this is also the defense point for all long positions
⚠️ Based on expectations, formulate a trading plan
1️⃣ Try shorts at 120700-121700, prepare for stop-loss
2️⃣ Place longs at 117400-116400, aggressive traders can attempt at 118200
$ETH Ethereum is currently in a very awkward position
1️⃣ Personally, I believe the upper pressure is at 4370, if broken, look for 4764
2️⃣ The lower support level is the weekly scalp at 4111
Currently, I have long positions in both Bitcoin and Ethereum, so I will not attempt any more longs; everyone decides for themselves
