The Evening Star pattern didn't disappoint! Shorting Ethereum is a big winner! August 12th Bitcoin Concubine's Thoughts

Ether formed a Evening Star pattern yesterday, resulting in big profits for short traders. Although Bitcoin surged, it also fell. Ethereum broke through the 4350 level in the evening but couldn't hold steady, falling below 4200 again this morning. Shorting Bitcoin didn't offer any opportunities in the evening, and Ethereum easily made profits, with one wave reaching hundreds of points, and two waves reaching two or three hundred points! Those who followed the second wave of shorting can lock in profits or use a trailing stop-loss to protect their profits!

Technically, the daily chart, as expected, closed with another negative candlestick. Bitcoin formed a long upper candlestick, while Ethereum formed a cross candlestick with a long upper candlestick. This is also a very clear bearish pattern. Therefore, Conan recommends shorting on rebounds for intraday trading! Focus on upper resistance levels at 120,800, 121,700, 122,300, and 1233,300. Focus on lower support levels at 118,000, 117,300, 116,300, and 115,500.

8.12 Bitcoin Trading Strategy: Aggressive traders should continue shorting on rebounds between 120,000 and 120,500. Conservative traders should enter the market on rebounds between 121,000 and 121,500, with a defensive target around 122,500. Targets are around 119,000, 118,000, and 117,300. If prices break below this level, target 116,800 and 116,300. Continue to break through this level and maintain profit margins.

Trading strategy for Ethereum on August 12: Aggressive traders should enter the market short on a rebound to 4300-4330. Conservative traders should enter the market around 4380, with a target around 4400. Targets are around 4200-4170. Breakout targets are around 4150-4100. Continue to move the stop-loss and profit-taking to see if the market breaks through.

Long trade strategy: Buy one lot on Bitcoin's first pullback to around 115,000, with a target around 700 pips. Targets are around 116,000-117,000-118,000. Continue to move the stop-loss and profit-taking to see if the market breaks through.

Buy one lot on Bitcoin's first pullback to around 4070-4100, with a target around 4030. Targets are around 4150-4180-4200. Continue to move the stop-loss and profit-taking to see if the market breaks through.

Ethereum's wife took turns liquidating short positions, but the market still closed with a bearish candlestick pattern, so avoid blindly chasing the rally. Focus on the Federal Reserve's public speech tonight. Let's see what the Fed's stance on monetary policy and the economic outlook looks like! #比特币市值超越亚马逊 #加密总市值创历史新高 #ETH突破4300