🫖August 28 Market View at Noon.🫖
$BTC Viewpoint:
The major coin has broken through with volume at 111731, and the hourly closing price is above 111731, so go long on the right side, with a stop loss if it breaks.
111188 has broken down with volume and cannot recover, so go short on the right side, and set a stop loss if it recovers. Pay attention to changes in volume, and set stop losses accordingly.
At 110312, a false breakdown occurred; add one more position if it recovers. Set a stop loss at the false breakdown low or if it breaks below 109319. If it does not recover, do not go long.
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The major coin has broken through and stabilized at 111673; look upwards to 112326-113553. It must stabilize at 112326 to continue rising.
When shorting the major coin, be cautious of a 2B false breakout at 112951; if it stabilizes above 113583, set a stop loss.
Conservative players wait for: long at 109336, with a stop loss below 108559.
The major coin has attempted to break through 112132 three times already. If it cannot stabilize again, the bulls will tire out, which is a sign that effort has no results, leading to a downward pullback. The resistance at 112132 cannot stabilize because most traders believe the major coin will fall, leading to selling pressure each time it rebounds to this level, preventing stabilization.
As long as it does not break below the wedge and consolidates inside, there is still a chance for the major coin to challenge 112132 upward. If the wedge breaks down, it will test the level at 108317 again. You say you can't find support and resistance, which is understandable, but can you not see the higher lows? If the pullback does not break below the right-side yellow arrow pointing at the neckline low of 110540, and the wedge has not broken, why would you short? Just because you think it won't rise?
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Upper resistance: 112326-113553-114766
Lower support: 111332-110522-109329
At the 4-hour level, 111585 has broken down, looking downward to 110540-109317.
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$ETH Thought Process:
The minor coin has broken through with volume at 4545; go long on the right side, with a stop loss if it recovers.
4504 has broken down with volume; go short on the right side, and set a stop loss.
On a pullback to 4448, confirm support is valid and go long one more position; set a stop loss at 4405.
At the hourly level, the minor coin has stabilized at 4552, looking upward to 4609-4661.
Watch for a short at 4615, with a stop loss if it breaks through 4661.
Left-side orders: long at 4373, with a stop loss at 4330.
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Upper resistance: 4552-4609-4661
Lower support: 4504-4465-4405
At the 4-hour level, 4464 has broken down, looking downward to 4406-4348. The minor coin must break through 4658 to form a W bottom; otherwise, it’s pointless, and the meeting is adjourned.