8.19
BTC
Bitcoin bounced off the support of the trend line yesterday. We need to pay attention to the continuity of this rebound because the good point this week is that after Monday's weekly close, it went down for a retest. This provides some room for performance on Wednesday and Thursday of this week. However, for this position to strengthen, it must stabilize above 117,000. Otherwise, it might follow the previous trend line for a retest and then fix the divergence at the daily level before choosing a direction. In summary, if it cannot rise above the 117,000 mark during the day, it will fluctuate and correct around 117,000 to 114,800. Next, we need to pay attention to whether the news on Wednesday, Thursday, and Friday will affect market trends. Support is at 114,800-112,500, and resistance is at 117,000-118,500.
ETH
Ethereum is currently experiencing a high-level divergence at this position on the daily chart. This position is very critical; if it cannot stabilize above it, a larger-scale correction will occur. During the day, pay close attention to whether the position at 4,380 can stabilize. If it cannot hold, we should be alert for another downward movement or even a spike. Support is at 4,225-4,122, and resistance is at 4,380-4,470.
