Analyst Liang Qiu: 8.22 Bitcoin/Ethereum Fluctuating Back and Forth, Constantly Switching Between Highs and Lows

Bitcoin and Ethereum have been fluctuating back and forth these past few days, with the overall volatility continuously narrowing, and the highs and lows consistently trending downward. The long position we set up last night also dropped again to 111900 and 4202 before initiating another rally. As of now, Bitcoin has reached a high of around 113500 and Ethereum around 4315. The overall volatility is not significant, and the space is continuously narrowing, with pressure remaining above. We should pay attention to the upper resistance levels of 114000 and 4350.

On the daily chart, Bitcoin and Ethereum are also exhibiting a pattern of small downs and small ups, alternating between bullish and bearish, with no clear direction. The previous significant drop, coupled with the lack of clear rebound now, is a typical continuation pattern in a downtrend. After several rounds of hovering, a new round of decline is expected. In terms of moving averages, there have been multiple unsuccessful attempts to break higher, and the highs are continuously declining, indicating clear resistance and pullback. Short-term rallies can continue to be shorted.

Trading advice: Short Bitcoin around 113300 to 113800, with a target near 112000; Short Ethereum around 4300 to 4320, with a target near 4200.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The publication of this article does not guarantee timeliness, and specifics should be based on real-time data】#美国初请失业金人数