BTC/ETH Strategy on August 16
Yesterday our strategy shifted between bullish and bearish, with Bitcoin at 3600 points and Ethereum at 220 points, mainly influenced by news and the selling pressure from major players. So how should we view today?
In terms of external environment, market sentiment is neutral, and the macro environment does not show significant pressure. The news is a mix of positive and negative. Although institutions have increased their investment in crypto assets and ETF trading volume has reached new highs, this brings some support, but technical pressures and the unlocking of tokens still pose potential threats to the market.
From a technical perspective, the moving average system shows a bearish arrangement, and trading volume is extremely low, indicating a lack of upward momentum in the market. If the price cannot effectively break through the current resistance level, it may face a risk of retracement. On the daily chart, as long as the rebound breaks through 1192, it indicates a strong bullish rebound. Pay attention to the upper resistance at 1205-1218, and conversely, note the lower support at 1169-1158-1145.
BTC short around 1176-1182, resistance at 1190
Looking down at 1168-1157-1144
ETH short around 4456-4482, resistance at 4520
Looking down at 4392-4322-4257
