08.19———Bitcoin Ethereum Market Analysis
The support of 116800 before $BTC is now also resistance, and it coincides exactly with the upward trend line on the daily chart, which has now become a resistance line. Therefore, the resistance is quite significant.
✅Currently, it may be caught in a range oscillation adjustment, with a possible range of 114800-116800, a 2k point space. Decide for yourself to sell high and buy low within the range.
✅How to view reversals
▶️Within 2 days, if it directly closes above the trend line, note that it is the trend line and not the pressure of 116800. As time goes by, the trend line will slowly rise. I will only consider chasing long positions on the right side if it closes above the trend line.
▶️If it does not close above within 2 days, then consider oscillation and bearishness as the main focus. The support below is well-known to everyone, first look at 112888-111888.
Ethereum to Bitcoin $ETH , the previous support of 4384 has now become resistance, let's talk after it recovers.
▶️The support below has been mentioned, the first support is 3177, where is the second support? I think it is the scalp of the previous high point, around 3970-3870.
▶️Looking at it this way, Ethereum short opened at the highest point.
