Crypto钟良
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Bullish
8.15 BTC/ETH Market Viewpoint:
Bitcoin stopped falling at 117,000 early in the morning. Although it dropped from 123,446 yesterday by more than 7,500 points, causing many long positions to be liquidated or forced out, this does not mean that today we should reverse direction and chase shorts.
A large bearish candlestick on the daily chart has tested the middle Bollinger Band support, while on the 4-hour chart, a pullback has tested the lower band support and stopped falling. A pullback in the market to fill gaps is a good thing; the sooner it fills, the sooner it can continue to rise. When a pullback happens, entering long positions can offer greater profit potential. The intraday strategy is mainly to go long. Today, we should focus on whether the rebound can stabilize above the 120,000 level. If it stabilizes, the pullback is over, and the market should continue to reach new highs. If it cannot stabilize, it may continue to test support levels below.
The lower support levels to watch are 118,000, 117,000, and 116,000. Long positions should be focused around these levels. The upper resistance levels to watch are 120,000, 121,000, and 122,000.
Ethereum pulled back after reaching a high of 4,794 yesterday, stopping the decline at a minimum of 4,451. Currently, the short-term resistance above is at the 4,700 level. Only by breaking through here can we consider the pullback over. The first pullback from 4,794 to 4,451 has stopped falling, followed by a rebound that was pressured at 4,700, leading to a further decline. A second pullback near 4,451 has stopped falling and is rebounding. Currently, the price is around 4,620. The market can only be considered to have formed a successful double bottom at 4,451 if it breaks and stabilizes above 4,700. Otherwise, if it is pressured again at the 4,700 level, it may form an M-shape, and it is not guaranteed that 4,450 can hold. The middle Bollinger Band support for Ethereum is at 4,000, so if it fills the gap and goes down to the 4,200-4,000 range, it is not alarmist.
For today, the lower support levels to watch are 4,550, 4,500, and 4,450. Long positions should be focused around these levels. The upper resistance levels to watch are 4,700, 4,800, and 4,900. #美国7月PPI年率高于预期
Bitcoin stopped falling at 117,000 early in the morning. Although it dropped from 123,446 yesterday by more than 7,500 points, causing many long positions to be liquidated or forced out, this does not mean that today we should reverse direction and chase shorts.
A large bearish candlestick on the daily chart has tested the middle Bollinger Band support, while on the 4-hour chart, a pullback has tested the lower band support and stopped falling. A pullback in the market to fill gaps is a good thing; the sooner it fills, the sooner it can continue to rise. When a pullback happens, entering long positions can offer greater profit potential. The intraday strategy is mainly to go long. Today, we should focus on whether the rebound can stabilize above the 120,000 level. If it stabilizes, the pullback is over, and the market should continue to reach new highs. If it cannot stabilize, it may continue to test support levels below.
The lower support levels to watch are 118,000, 117,000, and 116,000. Long positions should be focused around these levels. The upper resistance levels to watch are 120,000, 121,000, and 122,000.
Ethereum pulled back after reaching a high of 4,794 yesterday, stopping the decline at a minimum of 4,451. Currently, the short-term resistance above is at the 4,700 level. Only by breaking through here can we consider the pullback over. The first pullback from 4,794 to 4,451 has stopped falling, followed by a rebound that was pressured at 4,700, leading to a further decline. A second pullback near 4,451 has stopped falling and is rebounding. Currently, the price is around 4,620. The market can only be considered to have formed a successful double bottom at 4,451 if it breaks and stabilizes above 4,700. Otherwise, if it is pressured again at the 4,700 level, it may form an M-shape, and it is not guaranteed that 4,450 can hold. The middle Bollinger Band support for Ethereum is at 4,000, so if it fills the gap and goes down to the 4,200-4,000 range, it is not alarmist.
For today, the lower support levels to watch are 4,550, 4,500, and 4,450. Long positions should be focused around these levels. The upper resistance levels to watch are 4,700, 4,800, and 4,900. #美国7月PPI年率高于预期
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