8.18 Evening Thoughts and Suggestions

During the day, from midnight until now, the market has been in a sudden decline, but we successfully seized the opportunity to enter the market and secured a profit margin. Even if the direction is wrong, it's okay; it’s like holding the wrong umbrella on a rainy day—just put it away and take another path. There is no permanent 'vacancy', only the 'self-entrapment' of not letting go of one’s obsession.

In the 1-hour chart of Bitcoin, the Bollinger Bands are opening downward, with the middle band turning downwards forming mid-term resistance. After the price broke below the middle band, it accelerated its decline, with the price now approaching the lower band support. We can also see that during the decline, the volume increased, while during the rebound, the volume decreased, highlighting the selling pressure that has not dissipated and the weak buying support. Although the lower band is temporarily supporting the price, the overall downward trend of the Bollinger Bands remains unchanged, and the middle band continues to pressure the rebound. If the lower band support is lost, the pullback space may further open up. In the short term, with a bearish atmosphere, when the rebound is weak, we need to be cautious of continued decline risks. At the same time, we should also pay attention to the pressure level at 115750 above and the critical support level at 114550 below. Set proper stop-loss!

Suggestions:

Bitcoin can be bought around 115400, targeting around 113000,

Ethereum can be bought around 4340, targeting around 4100 $BTC #比特币 $ETH