Crypto Scholar: The Bitcoin Short Feast Begins on August 22, the 110,000 Threshold is at Risk! Ethereum Whales Cash Out, Where is the Bottom?
The current price of Bitcoin is 112,300, it is now 1:30 AM Beijing time, the highest point before the daily K-line was 114,800. I remind everyone that the large-scale short trend continues. In the short term, bulls at 113,000 should take profits at 114,500. The daily intraday entry point has reached the highest point accurately for six consecutive times, so just continue to hold short. Currently, the key support to watch is the lower band support of the daily Bollinger Band at 111,000 and the EMA90 trend support at 111,400. There is a high probability of consolidation in the range of 110,000 and 114,000 for the remaining time this week. The 4-hour K-line roller coaster has reached the bottom support at 112,000. The MACD has entered a downward short trend. If 112,000 cannot hold, it is very likely to hit the 110,000 threshold. The current thinking is temporarily short as the main focus. After the support level effectively tests the bottom, consider trying long positions, set good stop losses, and prioritize risk over potential gains.
Short-term reference
Upwards from 112,000 to 111,500, defend at 111,000, stop loss 500 points, target look at 113,000 to 113,500, if broken look at 114,000.
Downwards from 114,500 to 115,000, defend at 115,500, stop loss 500 points, target look at 113,500 to 113,000, if broken look at 112,500.
Ethereum
The current price of Ethereum is 4,200, it is now 1:30 AM Beijing time, the highest point of the Ethereum daily K-line is 4,258. It is indeed affected by the overall market. It is very difficult for Ethereum to continue to stretch in the short term. The daily line alternates between bullish and bearish, standing at the Fibonacci retracement line, and upward stretches are showing a pullback downwards. The situation is not optimistic. Bullish friends should prepare for the worst-case scenario. We will continue to hold downwards; if the pullback does not break 4,550, we do not need to manage it. Watch the daily level trend support at 4,000 and the 0.786 support at 4,065. The upward trend support on the four-hour K-line coincides with the EMA120 support at 4,150. For short-term holding, just watch this position. If this area is lost, then follow the trend to go short. Previously, do not consider going upwards. The market sentiment is bearish, especially recent large whales cashing out at high positions, which has a huge impact on Ethereum.
Short-term reference
Downwards trial position from 4,300 to 4,350, defend at 4,400, stop loss 50 points, target look at 4,250 to 4,200, if broken look at 4,150.
Upwards trial position from 4,100 to 4,050, defend at 4,000, stop loss 50 points, target look at 4,150 to 4,200, if broken look at 4,250.
Advice is for reference only, risk is self-borne $BTC
