Evening Analysis on 8.20

From the perspective of the market, on the four-hour level, the price rebounded after testing the lower Bollinger Band. The KDJ lines formed a golden cross in the short term, providing some upward momentum. However, it’s important to remember that the Bollinger Bands are still opening downward, the MACD lines are firmly below the zero axis, and the green bars are still extending outward. The overall weak trend has not changed.

Switching to the one-hour view, the short-term movement has indeed been impressive, with consecutive bullish candles climbing above the middle Bollinger Band. Although the bears attempted to push the price down, their strength was relatively weak and failed to bring it back down completely. Nevertheless, this rebound still hasn’t managed to break out of the descending channel.

Therefore, in the evening, Lao Hu's trading strategy is clear: first, see how high the rebound can go, and after the correction is in place, the main strategy will still be to short at high levels, without being easily misled by the short-term rebound.

Personal Suggestions

Bitcoin: Enter at 114500-115200, target down to 112000, if it breaks, look at 110000, long-term target 105000

Ethereum: Enter at 4250-4280, target down to 4060, long-term target 3600!