Short positions make big profits, the probability of a 50 basis point rate cut is low, be cautious about chasing highs and cutting losses! 8.15 Bitcoin trading strategy

A report released on Thursday showed that the wholesale price increase in July far exceeded expectations, which may indicate that inflation remains a threat to the U.S. economy. At the same time, unemployment data released showed that the number of initial jobless claims in the U.S. unexpectedly decreased last week. However, it has remained near the highest levels since 2021, indicating that many unemployed Americans are finding it difficult to find work. As a result, the price of cryptocurrencies dropped significantly yesterday, with over $1 billion liquidated! The short selling strategy provided yesterday resulted in significant profits. In the evening, buying after the dip also captured a considerable space!

From a technical perspective, the daily Bitcoin chart shows large bearish candles, while U.S. stocks basically closed flat, showing no signs of weakness. However, the rebound in cryptocurrency prices is relatively weak, with yesterday's decline being halted at the 20-day moving average. The KDJ indicator has turned downwards from a high position, forming a death cross. Currently, the price level is heavily contested between bulls and bears, so everyone should avoid holding positions. Pay attention to the gains and losses of the 20-day moving average during intraday trading; if it breaks, then it’s time to short. It seems that without further selling pressure, the price of cryptocurrencies may see a bullish rebound! Upper resistance levels to watch are 120,000, 122,000, 124,500, and 126,000, while lower support levels to watch are 117,000, 116,300, 114,600, and 113,300. For Ethereum, upper resistance levels are 4665, 4740, 4800, and 4870, while lower support levels are 4500, 4450, 4360, and 4250.

8.15 Bitcoin trading strategy: Aggressive traders should enter long positions on a pullback to 116700-117000, conservative traders should enter at 116000-116300, with a stop-loss around 115500, targeting 118000-119000-120000, and if it breaks, look for 121000-122000. Continue to adjust stop-losses based on market conditions!

8.15 Ethereum trading strategy: Aggressive traders should enter long positions on a pullback to 4470-4500, conservative traders should enter at 4430-4450, with a stop-loss around 4400, targeting 4550-4600-4650, and if it breaks, adjust stop-losses based on market conditions!

Short selling strategy: For Bitcoin, short one hand at 124000-124500 during the rebound, with a stop-loss around 125000, targeting 123000-122000, and if it breaks, look for 121000-120500-120000.

For Ethereum, short selling should be done at the rebound of 4750-4790, with a stop-loss around 4830, targeting 4700-4650-4600, and if it breaks, look for 4570-4550.

The market makers often inadvertently reverse and harvest during a wave. Currently, the bullish trend has not been broken. If there is no further sell-off, Ethereum may reach new highs! #以太坊创历史新高倒计时