8.22 Night Bitcoin and Ethereum Market Analysis and Trading Recommendations

No vague guesses, only clear directions. No flashy tricks, solely focused on real profits. Reviewing the evening market, the price comparison started to rebound and retrace from the afternoon, and by evening, the bulls began to exert force, pushing it up to the high point of 113995. Subsequently, the bullish momentum dissipated, and the bears took over, continuing to retrace, currently oscillating around 1123. The trend for Ethereum is also similar to Bitcoin, having risen to 4328 before starting to retrace, currently oscillating around 4230. The bulls and bears are still engaged in a tug-of-war, with no significant gap opened yet.

From the current market perspective, Bitcoin's four-hour structure shows that the price rebounded to the middle track and encountered strong resistance downward, presenting a situation of high gains followed by a decline, showing a bearish engulfing pattern. The price has been oscillating downward with weak rebounds, the four-hour chart is about to close, and the peaks of the three-wave patterns are getting lower, indicating that the current market is still weak, dominated by bears repeatedly testing the lower support. The short-term rebound is merely a normal technical correction. Looking at the four-hour level, the price shows six consecutive small bearish candles, continuing a one-sided downward channel, with bearish momentum gradually releasing. Although the attack has slowed, the pace remains steady. Below, attention should be paid to the breaking of the previous low point at 112000. The layout strategy for the early morning should focus on short positions, with strict defense!

In the evening, Bitcoin can enter a short position at 112400, targeting around 111000.

In the evening, Ethereum can enter a short position at 4230, targeting around 4150. #比特币 $BTC