8.23
Bitcoin shows strong upward momentum, while Ethereum reaches new highs. How should we choose between long and short positions in the future?
From a 4-hour perspective, Bitcoin's strong rise is followed by slight adjustments. Although there are signs of stabilization, the long upper shadow indicates strong selling pressure above, and the shrinking upward movement suggests that the continuation of the bulls needs further observation. From a 1-hour perspective, the market volatility is narrowing, and the bullish momentum has been fully released, indicating that there is still a demand for pullbacks in the future.
Operation Suggestions
Bitcoin: 1165-1170 range, target around 1150-1140.
Ethereum: 4760-4790 range, target around 4650-4550.
