August 21 Daily Analysis of Bitcoin
After setting a new low last night, Bitcoin did not continue to decline. It has bounced back but remains in a sideways movement within the channel at the hourly level; moving averages are turning, and if a golden cross forms, there is room for a second bullish push. In comparison, Ethereum is stronger, with a higher rebound efficiency after finding support. With the annual meeting approaching in the next three days, volatility may increase, but the main strategy remains 'buying the dip and looking for continuation upward', with rhythm taking precedence over direction.
Operational Suggestions
Bitcoin: Focus on the range of 113,000–112,300 for support, stabilize and go long, targeting 115,500–116,100; if strong, extend to 117,300–118,000; if it breaks below, watch out for a second retest of 112,160–111,300.
Ethereum: Buy the dip at 4,195–4,110, targeting 4,350–4,450; after breaking above the upper limit with volume, look for 4,500–4,600.
