8.12 Market Analysis

Bitcoin surged to around 122335 yesterday, then retraced to around 118050 this morning. Overall, this is within a healthy retracement range, as a new week begins and Bitcoin's weekly candlestick needs to pull back to connect with last week's candlestick. Today, there will be a slight rebound, with a resistance level around 119450. Following that, it may continue to test the low range of 118000-117500, where there is strong support.

Why does Long Ge always suggest everyone invest in Bitcoin? Because when it rises, there aren't any real pressure levels, and when it falls, the support is very effective. Moreover, it is more stable and easier to trade compared to other coins. ETH has support around 4160 and is relatively strong. SOL has support around 171, which is somewhat weaker than Ethereum, but still possesses strong support. For those who haven't entered the market yet, it is recommended to buy at strong support levels or increase positions!