8.21 Bitcoin long-short ratio continues to soar, the strategy follows the trend to rebound and short.
After Bitcoin surged to a high of 124545, it pulled back, with the daily K-line Bollinger middle track and lower track both opening downwards. Overall, after a series of highs and pullbacks, it continuously closed with bearish candles. The weekend saw two bullish doji stars, which are insignificant for the pullback. The price has currently pulled back to a low of around 112500, nearing the support of the lower track. The MACD bearish energy continues to expand, and on the 4-hour level, the price is supported by the lower track and is rebounding. Future operations continue to focus on short positions, but avoid being too aggressive in chasing shorts. The lower support is at 112000 and 110000.
Earlier, on Monday and Tuesday, shorts were taken from high positions, so profits have already been made. Therefore, we advise everyone to short from high positions rather than chasing shorts near the support. The upper resistance to watch is around 115000; if the rebound faces resistance here, it will continue to decline and test the support at 112000 to 110000. High shorts can be considered here initially, with a small stop loss. If this level is broken, then consider entering high shorts again at 116000 and 117000.
Ethereum pulled back after hitting a high of 4794, oscillating downwards. Currently, it is supported by the daily K-line Bollinger middle track, and whether it can effectively break down needs time to verify. However, once the 4000 level is broken, the space below will open up, with 3850 and 3500 as lower support. The current price is around 4300, and the short strategy remains unchanged. The upper resistance to watch is around 4380; high shorts can be entered around this level, with lower targets at 4100 and 4000. For friends whose recent trading has not been ideal, consult btc0796 to exchange market insights together.
Trading suggestions:
Bitcoin short at 115000-115500, target around 113000-110000. Stop loss at 116500.
Ethereum short at 4380-4430, target around 4150-4000. Stop loss at 4480.