Crypto Circle Scholar: On August 21, Bitcoin seeks opportunities amidst the decline! Can the 115,000 pressure zone break through? Ethereum performs a 'dark horse miracle'! Bears may soon 'wail in despair'
Current Bitcoin price is 114,000, it is now 1:30 AM Beijing time. Before publishing, the daily K-line reached a high of 114,330. The market has reached a mid-line support level. Friends with more than 3,000 in the south can consider taking some profits to lock in gains; the remaining opportunities are just icing on the cake. While holding short positions, one can also consider opening a long position near 112,000. The daily K-line correction has stretched to the EMA60 resistance level, with the lowest point reaching 112,380. It did not reach the lower support of the Bollinger Bands at 111,200, and a rebound occurred. There’s no rush; just wait. The four-hour K-line currently continues in a short-term downward channel, and the EMA trend indicator has just completed an alternating downward diffusion. It is normal for K-line to have a correction. Pay attention to the upper pressure level of 115,500 and the trading volume in the short-term pressure range of 11450, along with the middle track pressure level of the Bollinger Bands at 115,000. If the short-term middle track does not break, the trend remains bearish; if it breaks, one needs to consider a short-term bullish trend.
Short-term reference
Downwards from 112,000 to 111,500, defend at 111,000, stop loss at 500 points, target at 113,000 to 113,500, if broken look at 114,000.
Upwards from 114,500 to 115,000, defend at 115,500, stop loss at 500 points, target at 113,500 to 113,000, if broken look at 112,500.
Ethereum
Current Ethereum price is 4,320, it is now 1:30 AM Beijing time. The highest point of the Ethereum daily K-line is 4,328. It can be seen that the main force directly retraced to the Fibonacci line 0.786 support and then stretched upwards. From 4,060, it broke 4,300 all the way, forming a one-sided recovery from yesterday's bearish trend. The daily K-line has virtually broken the middle track and pulled back upwards, reaching the upper pressure level. The resistance level of the four-hour K-line is more evident, retracing to the ascending trend line support which has lifted it to the top resistance level of the EMA trend indicator at 4,310. Therefore, the upward trend support may not break, and bulls may sweep in again. Thus, the long position at 4,060 is valid. In the short term, after taking some profits at 4,300, continue to hold the rest.
Short-term reference
Downwards testing position from 4,300 to 4,350, defend at 4,400, stop loss at 50 points, target at 4,250 to 4,200, if broken look at 4,150.
Upwards testing position from 4,100 to 4,050, defend at 4,000, stop loss at 50 points, target at 4,150 to 4,200, if broken look at 4,250.