August 15 Daily Bitcoin and Ethereum Analysis
Last night's sharp drop indeed dampened the enthusiasm of short-term bulls, but it did not fundamentally change the upward structure; it merely slowed the pace temporarily. The backdrop of interest rate cuts remains unchanged, and the rhythm of the entire bull market has not changed.
After a major washout, market sentiment has returned to a stage of long and short competition, and the technical aspect has entered a recovery period of time for space exchange, with a rebound in the daily mid-track and a rise from the 4-hour lower track, and the strength of institutions and large players is still present. Today is not only the first day of the rebound but also the clarion call for a new round of rises.
Operational Suggestions
Bitcoin: Long positions can continue to hold, watching the resistance level at 119,500; if it breaks smoothly, look for 121,000 first, long-term 124,500~126,500; conversely, if 119,500 holds, one can go short with a target of 117,800-117,000.
Ethereum: Currently at the critical resistance level of 4,650; if it breaks, then consider chasing long positions, targeting above 4,720 or even the previous high; conversely, if it fails to break, then switch to short, targeting 4,530-4,450.
