Evening of August 20th: Bitcoin and Ethereum Analysis

During the day, the analyst mentioned that the current Bitcoin is undergoing an ABC wave adjustment on the hourly chart. Bitcoin rose to around 11.4, and after Ethereum rose above 4230, it faced resistance. The analyst also successfully gained 1100 points from Bitcoin during the day, while Ethereum gained 120 points.

From the hourly chart perspective, both Bitcoin and Ethereum are under pressure from above and have not broken through. The KDJ three lines are in the oversold zone and have formed a death cross. The Bollinger Bands are narrowing, and the market also shows a tendency to turn downward. For evening operations, the analyst suggests taking a short position at high levels to catch the B wave adjustment in the market. The suggested entry point for Bitcoin is around 11.38, with a target below at 11.27; for Ethereum, the suggested entry point is around 4210, with a target below at 4110.