8.26 Summary of Yesterday and Thoughts for Early Today
The overall situation yesterday was quite favorable, mainly focusing on long positions in Bitcoin and short-term short positions. Bitcoin achieved nearly 9000 points, with Ethereum gaining around 630 points, detailed data can be seen in the table. Some friends lack opportunities, while others lack the ability to seize opportunities. Steady and solid efforts will take you further; don’t always think about taking more before exiting. If you are greedy, you will only walk towards an abyss of no return. If you are afraid of getting caught, make sure to set good stop-losses. Sometimes, it's good to reflect on why you always fall behind and miss out on gains!
Technical analysis of Bitcoin on a 1-hour level shows that after a weak support at the lower Bollinger Band, there was a rebound that broke through the middle band and encountered strong resistance at the upper band. Currently, it is fluctuating near the middle band of the Bollinger Bands. In the short term, the opening of the Bollinger Bands is showing signs of contraction, with the middle band gradually flattening. Although there is still no obvious bullish signal, attention should still be paid to the break of the key resistance level above. The rebound volume shows weak bullish support, and the lower Bollinger Band has not yet shown an upward reversal signal. The current rebound appears more like a trap for long positions, and unless the upper band is broken with increased volume, it may instead fall below the middle band of the Bollinger Bands, likely seeking new support at the lower band and even breaking through the lower band to continue the bearish trend. Whether for Bitcoin or Ethereum, ensure to set good stop-losses!
Suggestions:
Bitcoin can be shorted around 113200, with a target near 111000,
Ethereum can be shorted around 4680, with a target near 4500
