Last night Bitcoin and Ethereum rebounded from the bottom, both long and short exploded! Now, whether it's BTC or ETH, the market is still in the fluctuation phase, there are many small opportunities, but they are all range-bound thoughts. Key positions + key signals can be acted upon, but also be sure to take profits in time, don't fantasize about breaking out of a trend. This is how fluctuating markets work, overthinking will quickly lead to profit loss. In the last 24 hours, there were a total of 88,765 liquidations globally, with a total liquidation amount of $336 million!
BTC
Bitcoin has short-term rebound demand, with gaps above. However, BTC is temporarily unable to break through due to EMA20 suppression, and the bearish structure has not yet been reversed, so do not rush to chase after the rise near the resistance, wait for a breakthrough before chasing.
Bitcoin 108800 is a strong support level, hoping to take advantage of the macro sentiment in the next two days to quickly reach a spike and then start a V-reversal, so that we can confidently and boldly bottom fish Ethereum to bet on another attack on the previous high. If it moves strongly and holds at the round number of 110000, that can also be accepted, so keep a close eye on the news and market for bottom fishing.
Before a structural bottom appears, still treat recent days as a rebound high short strategy. Just when it reaches a relatively low position (around 112000), it belongs to the tail-end market. The volatility will be higher, so be sure to take profit protection.
Upper pressure: 114850/116800/117500/118600
Lower support 112000/111320/108000/105880
ETH
ETH, last night the bears made multiple downward efforts, all of which were countered by the bulls, and after regaining support, they continued to chase up. Brothers who entered positions at 4070 yesterday morning have now made over 200 points in profit, it is known that 4360 is resistance, so reduce positions for protection near the resistance.
4360 is a very important support-resistance exchange point, only when there is a solid breakthrough at this position can we look for new highs after 4500. For those without long positions, is it possible to set up a short position near the resistance? Short down and then long up, not wasting a bit.
In the next two days, observe the price performance near 4060 again. A pullback gaining support with a small bottom structure appearing, there will be a higher probability of breaking through after rebounding back to the trend line.
Upper pressure: 4339, 4460; Lower support: 4075, 3905, 3841
Altcoin
OKB is approaching 200 today, recently becoming a platform coin period, just like in 2018, when there was nothing to hype, we used platform coins to hype for a wave. Of course, OKB involves several significant positive news, gas transfer fees are almost 0, the number of coins has been reduced from 300 million to 21 million, the only drawback is that there is no contract mechanism and it is still in the state of a standalone coin, speculation is only short-term, but pay attention to its on-chain memes, which can easily create hundredfold coins.
Right, right, this week has been consistently calling within the community. On August 13, recommended OKB (at that time around 100), now the price is 190, an 90% profit margin in eight days. Just yesterday, under 130 I was still emphasizing in every group that 'OKB can still rise, it will rise', even if that was an entry point, there is still a 50% profit to date.
OKB indeed still has potential, but it shouldn't keep rising in the short term, there must be some consolidation. Everyone needs to pay attention to the difference between long-term and short-term operations, so for the short-term part, I am also gradually reducing my holdings, but I won't clear them.
Recently the on-chain activity in Europe is very hot, everyone is playing with dog coins, it's a bit like the previous SOL and BNB, this is worth paying attention to, but still, only 1/10 of OKB should be taken out to play (most good opportunities are at midnight), taking small risks to gain big, it's not advisable to use value coins to gamble on dog coins.
