After the start of autumn, the summer sun seems less glaring, but the heat remains unabated. This weekend is another blooming moment!! Of course, Feige hopes that you were one of the friends following Bitcoin at 112000 yesterday.
Today, many friends privately messaged me asking why I was so certain about being bullish near 112000 on Friday? And many said that many people in the market are seeing it going to 100,000.
In fact, making a move at the key position of 112000 was a viewpoint we provided in a video analysis on August 2. The previous high was around 112000, and breaking through would create a top-bottom conversion position. Although there was a two-day consecutive downtrend in the two days before August 2, we also emphasized that we should not blindly chase shorts, especially near a key point like 112000. If this place stabilizes, the market will continue to look up towards the previous high.
The price, as we expected, has further rebounded. This time's pullback completely coincided with the last one, also happening in the early morning, testing near 112000. It then showed a slight rebound, and during the day, the price directly underwent further increases. If you reviewed the price movements on August 2 and August 3, you should understand what I’m talking about. By the evening, although the price saw a second pullback, this does not mean you should chase shorts. Feige is also worried that many friends ignored the advice to go long near 112000 in the morning or were afraid to go long or hold after the price pulled back again. Especially after breaking through 112000, many people panicked.
We specifically held a live stream. We explained for an hour and emphasized two points again in the live chat. The first point is that those with long positions at 112000 can continue to hold. The second point is that if you are in a flat position, you should enter long positions near 112100. In addition, we provided a stop-loss position to avoid unnecessary risks. Next, we will witness the market starting to soar. In fact, the layout at this position was also discussed in our previous video analyses about the 112000 area. If it stabilizes again, it will form a new box-like震荡. The upper edge of the box near the previous high of 120000 and positions like 124000 have opportunities to continue testing.
Ethereum refreshed its historical high in the early morning. Currently, at the weekly level, we discussed it during our morning video. The weekly line shows a second pullback at the top and bottom conversion position, leading to a new rise. This kind of trend, with a rapid rebound, indicates that this round of correction at 112000 will not have a significant breakdown, but rather has a higher probability of forming a震荡上行 pattern. Ethereum has now refreshed its historical high. In the coming week, even if there is a pullback in Bitcoin in the next few days, it will still undergo further increases. Ethereum is expected to continue refreshing highs to test the 5000 mark. If you still have long positions near the bottom of 112000, friends who like to trade trends can continue to hold. For those without long positions, after the pullback, it should still primarily be about going long. Today's support area at 114500 has just been successfully reached, and those without positions can still enter.
Although the market is active every day, you must not be the one pretending to sleep. The end of this week is just for the start of next week and September. Don’t regret the opportunities that you’ve missed; following what comes next is key. We are recruiting several quality students in September, requiring execution ability, experience in market fluctuations, and ambition, with loyal fans given priority.
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