8.22 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

As the weekend approaches, market volatility narrows, with Bitcoin oscillating only within a 800-point range at midnight. Previously emphasized the need to pay attention to the breakthrough of the previous low of 112000 points; after a brief false breakdown at midnight, it quickly recovered, which is in line with expectations. Therefore, the midnight strategy target is relatively conservative. Currently, there are limited opportunities for significant profits in the market, but small gains can still be captured.

Market signals are clear: highs and lows are synchronously moving downwards, forming a descending staircase pattern. Yesterday's daily line closed in the red, giving back all previous gains, and moving averages are in a bearish arrangement, with previous support levels turning into strong resistance areas. During the pullback process, several small upward candles effectively released bullish momentum, making the retracement more coherent and healthy. Looking at the four-hour level, the five consecutive bearish candles have concluded, and two small upward candles have formed a volume-constricted upward pattern, with limited continuity. It is necessary to clarify that the current situation is merely a corrective phase, not a trend reversal, and one should not blindly chase long positions. This is even more evident on the hourly level—wave structures continue to break lower, with weakening rebound strength. With a clear trend, one should operate in accordance with the trend; in the afternoon, one can choose to short at high positions.

You can short Bitcoin around 113500, with a target near 112200.

You can short Ethereum around 4320, with a target near 4220 #比特币 $BTC