😺Market insights for the midday of August 16.😺
$BTC Insights:
The main coin breaks through 117802 with volume, and the hourly closing price is above 117802, enter long positions on the right side, with a stop loss if it breaks.
117092 breaks down with volume, unable to recover, enter short positions on the right side, with a stop loss if it recovers, pay attention to changes in volume, and maintain a proper stop loss.
If 116777 shows a false breakdown, add a long position, with stop loss at the false breakdown low or if it breaks 115950, if it cannot recover, do not go long.
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The main coin stabilizes above 118121 at the hourly level, looking upwards at 119104-120296; if it cannot rise above 118121, do not look bullish.
When shorting the main coin, be cautious of a 2B false breakout at 119104, with a stop loss if it stabilizes above 120296.
Conservative traders wait: long at 114283, with stop loss if it breaks 113314.
Speaking through the chart: the price channel has not been recovered, and now it has broken down through the consolidation after the decline, and a lower low has appeared; previously it was making a higher high each day, now it is waking up to a new low.
In the bullish shark pattern drawn in the chart, if the main coin can reach point D of the shark pattern, this is a worthy long position on the left side, those who like left-side trading can wait around 114196; this position cannot guarantee a reversal, but there will definitely be a rebound.
If the main coin cannot recover the consolidation after the decline today, it will continue to test downwards; in fact, the market often repeats these moves, regardless of whether it rises or falls, there will be a consolidation, and then a direction will be chosen as illustrated in the chart; when you have free time, do some research; since you've chosen the path of trading, you must study hard, don't just go with the flow.
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Resistance above: 118121-119104-120296
Support below: 116956-116345-115170
At the 4-hour level, if it breaks 117125, look down at 116277-115193; breaking 116277 will give the D point of the shark pattern.
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$ETH Thoughts:
The secondary coin breaks through 4493 with volume, enter long positions on the right side, with a stop loss if it recovers.
4459 breaks down with volume, enter short positions on the right side, maintain a proper stop loss.
If it retraces to 4400, confirm valid support, add a long position, with stop loss if it breaks 4360.
The secondary coin stabilizes above 4502 at the hourly level, looking upwards at 4557-4594.
Watch for a short position at 4573, with a stop loss if it breaks 4616.
Left-side order: long at 4256, with stop loss if it breaks 4215.
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Resistance above: 4502-4557-4594
Support below: 4407-4350-4313
At the 4-hour level, if 4369 breaks down, look down at 4330-4272, meeting adjourned.
