8.11 Bitcoin and Ethereum Daily Analysis
The current market situation is not just a simple technical breakout, but rather an increase in interest in U.S. stock ETFs combined with large capital inflows that have led to continuous new highs in prices. High-level consolidation has repeatedly shaken out short positions, with more and more shorts being added, which instead serves as fuel for the bulls.
Now both Bitcoin and Ethereum are on the verge of breaking new highs, with bullish momentum and almost no retracement energy, and the top resistance is unclear. Once broken, it could trigger a new acceleration phase in the bull market. In the short term, the upward space still prevails; as long as the key support level holds, the trend remains unchanged; if it breaks, caution for adjustment is warranted.
Trading Strategy
Bitcoin: Buy range: 121100–120600, Target: 122700–123200
Ethereum: Buy range: 4300–4320, Target: 4360–4450
