8.13 Midday Analysis
Affected by last night's CPI data, aside from Bitcoin, other altcoins have all broken through recent highs, and market sentiment is relatively active. For Ethereum, the key is whether it can break through and stabilize above 4700. Once it stabilizes, the target of 4800 may be reached quickly. Overall, it is still in an upward trend, so it may be worth waiting for a pullback opportunity to enter.
Looking at Bitcoin, tonight we need to focus on the level of 120800. If it can successfully stabilize above this level, a move towards 125000 cannot be ruled out; if it cannot stabilize, it may continue to decline, with support levels to watch around 118000, and low buying can be considered near this level.
Suggestions:
Bitcoin: Consider buying near 118000-118900, aiming for 120800; if stabilized, further targets can look towards 123000.
Ethereum: Suggest buying near 4600-4630, with a target of 4700; if stabilized, further look towards 4800.