8.20 Morning Thoughts
Currently, Bitcoin is in a bearish trend, but after an excessive drop, there is a technical correction demand. It is close to the lower Bollinger Band, and the moving averages show signs of stabilizing. Bet on an excessive drop rebound, and take light long positions.
Enter long when Bitcoin falls to 112500 - 112000.
Target at 114000 - 114500; if it breaks through, continue to look at 115000.
Enter long when Ethereum falls to 4050 - 4020.
Target at 4200 - 4250; if it breaks through, continue to look at 4300.
Core: Bet on a technical rebound after an excessive drop, and strictly set stop losses! If it breaks the defensive level, exit decisively without holding the position; controlling risk is the priority.
Pay attention to Old Crab, capture the repair market in the morning!
