8.13BTCETH Market Outlook:
Ethereum is not suitable for blindly chasing gains anymore, as this continuous surge creates a larger gap beneath, so one must be cautious of retracements to fill the gap, which cannot be ignored. For long positions, taking profits around 4500 seems reasonable for short-term traders. After all, around 4500 above is a resistance level; no matter how crazy the market gets, it never only goes up without a drop, nor does it only drop without a rise!
For short positions, if you want to try, you can participate around 4500, but it must be with a light position and a stop-loss, keeping a 50-point stop-loss, just to take a chance. If you are fully invested, it's better not to attempt it.
For support below, keep an eye on 4330 and 4280; you can attempt to set a low buy around here. If a retracement gives an opportunity, take it; if not, then let it go. Getting too aggressive with long positions might lead to a high retracement after the market rises, filling the gap, which would be unpleasant. Ethereum has been quite volatile lately; anything is possible.
Bitcoin must be distinguished from Ethereum; do not assume they will move in sync. They have become independent for quite some time now. For resistance above, watch 121000 and 122000; this is a reference for taking profits on long positions or reducing positions. As for short positions, to be honest, I do not recommend engaging. Who knows if Ethereum spikes so much, Bitcoin might also catch up later, showing some volatility too; after all, a tiger doesn't roar for nothing, it shouldn't be treated as a sick cat!
For Bitcoin, support below is at 118800 and 117900; consider planning around here for low buys. As I said, I don't really recommend entering short positions. If a low buy opportunity arises, take it; if not, there's nothing to be done. Missing out on a market opportunity won't lead to losses, but misjudging the market will certainly result in losses. The market fluctuates greatly, so be sure to manage your position size! #ETH突破4400
