8.25 Morning Thoughts #BTC #ETH

The market staged a battle of long and short positions overnight! Bitcoin rose to 114914 but met resistance, followed by a sharp decline characterized by a large bearish candle, plummeting over 4400 points in an hour, reaching a low of 110484; Ethereum previously soared to 4957, breaking new highs, but was then suppressed by bears, with a large bearish candle dropping to 4702, a short-term decline of over 250 points. On the operation side, Old Hu just secured over 100 points from a long position, but the Bitcoin long position was wiped out by the crash, prompting a decisive reversal to buy the dip, capturing nearly 900 points on the rebound. No matter how fierce the market is, hitting the right rhythm can turn losses into gains!

From the 4-hour K-line chart of Ethereum, the previous breakout from a low volatility range with a significant long bullish candle broke the downward trend, providing a clear signal of trend reversal; during the pullback phase, K-lines maintained a narrow range of small bearish and bullish candles with reduced volume, not effectively breaking below the middle track and previous consolidation platform, indicating strong support from bulls; the Bollinger Bands consistently opened upwards, with a complete trend structure showing no signs of weakening. Although there may be short-term corrections, based on the rhythm of the pattern, it leans towards a process of bullish accumulation. If the key support area holds effectively, it is expected to launch an attack towards previous highs and upper space relying on the inertia of the pattern.

Trading Suggestions

Bitcoin Buy near 113000—112500, target first at 115000

Ethereum Buy near 4750—4700, target 4880