8.12 Bitcoin and Ethereum Analysis
Looking back at yesterday, as soon as the morning analysis was released, both Bitcoin and Ethereum started to gain momentum. Bitcoin surged to around 122400, while Ethereum reached around 4350, then began to pull back with considerable force; in the evening, Ethereum started to move independently, peaking around 4370 before pulling back again. Friends, think carefully about this kind of back-and-forth movement; as long as you trade in the right direction, what will the result be? Just lay back and collect profits! 🔥🔥🔥
Today's Bitcoin reference for the back-and-forth is around 118300. If it holds above this level on the four-hour chart, we can continue to look for upward movement, with the first target around 120000 and the second target around 122000. If it breaks below and stabilizes under this level on the four-hour chart, it will continue to pull back, with a target around 116900.
For Ethereum, pay attention to the level around 4260. It will only continue to break through if it stabilizes above this level on the hourly chart. If it breaks through, watch the levels 4300-4320-4350; however, if it struggles to rise above 4260 on the hourly chart, the market will continue to pull back, with a target around 4200, and if it breaks below 4200, it will continue to decline.