8.23 Morning Analysis of Bitcoin and Ethereum
Last night, the market was once again hot, with Ethereum briefly breaking new highs. Expectations for a rate cut in September have been rising, and positive sentiment continues to be released. The target of 5000 has gradually become a reality.
Bitcoin's fluctuation was nearly 5700 points, while Ethereum pulled out a space of 680 points. The rhythm still primarily favors low buys, with bullish momentum continuing to increase on the four-hour chart. Friends holding short positions should patiently wait for a pullback to enter, and remember to strictly set stop losses to avoid counter-trading.
Trading Suggestions
Bitcoin: Layout long positions in the range of 115500-116000, aiming for 117500. If it breaks through smoothly, further targets can be set at 118000.
Ethereum: Low buys in the range of 4750–4770, aiming for 4900. If it continues strongly, the target directly points to the 5000 mark.
