🍆 August 14th midday market insights. 🍆
$BTC view:
The major coin breaks through 1240 with volume, closing above the 1240 hourly level, right-side chasing long positions, stop loss on breakout.
1234 with volume breaks down, unable to recover on the rebound, right-side chasing short positions, stop loss on recovery, pay attention to volume changes, maintain stop loss.
1214 shows false breakdown, recover an extra position, stop loss at the false breakdown low or below 1202, if it cannot recover, do not add long positions.
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The major coin has stabilized above 1237 at the hourly level, looking up at 1245-1258, a new high for the major coin is coming.
When shorting the major coin, pay attention to a 2b false breakout at 1245, lightly short one position, if it stabilizes above 1258, set a stop loss.
Conservative players wait: long at 1191, stop loss at 1181.
Talking with charts: The major coin's hourly flag pattern has been broken, observing the volume breakthrough at the flag pattern with volume and price, after breaking the flag pattern met resistance at 1221 and experienced a pullback.
Moreover, it retested the upper boundary of the flag confirming the support is valid and continues to break upwards, subsequently breaking the previous high to create a new high. If it can stabilize at 1245 and consolidate above it, the next target position will be 1268. The previous logic of looking for a pullback must be broken as the major coin has already created a new high. Currently, the focus should be on pullback buying, with shorting as a supplement. Today, during the day, the major coin should oscillate around the range of 1245-1221.
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Upper resistance 1237-1245-1258
Lower support 1223-1214-1203
4-hour level, breaking down at 1223 looks down at 1217-1206, if it does not break below 1206, the major coin will remain strong.
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$ETH thoughts:
The second coin breaks through 473 with volume, right-side chasing long positions, stop loss on recovery.
471 with volume breaks down, right-side chasing short positions, maintain stop loss.
Retesting 463 to confirm the support is valid for one more position, stop loss below 458.
The second coin stabilizes at 473, looking up at 475-478-480, as the major coin rises, the second coin quickly loses strength.
For the second coin, pay attention to 478 for a short position, stop loss if it breaks 480.
Left-side order: long at 450, stop loss below 447.
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Upper resistance 475-478-480
Lower support 470-463-460
4-hour level breaking down at 469 looks down at 460-456, the second coin cannot break the flag pattern drawn in the chart, if the flag pattern breaks, the second coin must be watched closely. The volume below has been decreasing, which is not a good sign, students chasing high on the second coin should pay attention to risks, meeting adjourned.