Ethereum is really taking off, the only resistance to pay attention to is 4500 here. I've been emphasizing this for the past few days; the resistance is meant to serve as a reference for reducing long positions and taking profits. There are no plans for short positions at all. How much have you all profited from this bullish trend?

8.12BTC/ETH Market View:

The market fluctuates greatly, avoid chasing highs and cutting losses. If leaning towards bearish, then suppress the highs to short, rather than being afraid to short when prices are high, fearing further increases, and then retreating to lower levels to test support before rushing to short. This approach can lead to losses. The market constantly reverses and washes out, do not chase highs and cut losses!

Bitcoin's daily K-line closed with a small inverted hammer candlestick. After piercing the upper band resistance, it closed with a long upper shadow, indicating that selling pressure from above is still quite evident. The current price has retraced below the upper band, focusing on the middle band support during the day. As long as the middle band support holds, the market should rebound; if the middle band support is broken, the market is likely to test the lower band support. The current price is testing the middle band support at the 4-hour level, coming down from a high of 122450. Yesterday, the overall trend showed a fluctuating downward trend, but it stopped falling at 118050, forming a bottom sideways consolidation. Whether the bulls are preparing for a breakout, using sideways movement to replace declines, or if the rebound is weak, needs time to verify.

Support below focuses on 117300, 116600, and 116000. An effective drop below 116000 will trigger stop-loss. The target above looks at 119000, 121000, and 123000. If the market effectively drops below 116000, then it is likely to move towards 112000 for a retracement test.

Ethereum's movement is even more volatile, with two consecutive small bearish doji candlesticks on the daily K-line. The upper and middle bands of the Bollinger Bands are still opening upwards. The low long strategy is the main focus for today, as long as the price does not effectively drop below 4160, there is no need to expect a major correction or go bearish; this is the low point of the recent two days' retracement.

Support below focuses on 4200 and 4150, with low long positions around this area. The target above looks at 4270, 4370, and 4500. #比特币市值超越亚马逊