🍒 August 29 market outlook. 🍒
$BTC Opinion:
Bitcoin's volume broke through 111690 with a closing price above 111690 on the hourly level, continue to buy on the right side, stop loss if it breaks.
111417's volume broke down, unable to recover with a right-side sell, recover stop loss, pay attention to changes in volume, and manage stop loss well.
110326 showed a false breakdown, adding one more long position, with the false breakdown low or stop loss if it breaks 109362.
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Bitcoin's hourly level broke and stabilized at 111849, looking upwards at 112655-113555, is my waking posture incorrect?
When shorting Bitcoin, pay attention to the 113555 level appearing as a 2b false breakout, open a short position, and set stop loss if it stabilizes above 114795.
Conservative players wait: buy at 109306, stop loss if it breaks 108515.
Bitcoin rose yesterday but only reached the upper boundary of the wedge, facing resistance and falling back, and the upper boundary of the wedge resonated with the resistance level at 113592, which is a normal phenomenon.
However, directly missing the support at 112132 was unexpected; I thought it would pull back but didn't expect it to pull back this deep.
Currently, the wedge has been broken without a lower low appearing, so bulls don’t need to worry too much; when the right side yellow box position at 110540 breaks, it will be time to worry.
The neckline at 110540 has been broken, which has destroyed this segment of the hourly upward trend, and it may still test the previous low at 108636, forming a double bottom on the hourly level, consolidating and oscillating to choose a direction, so there's no need to panic before breaking 110540.
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Upper pressure levels: 111849-112655-113555
Lower support levels: 110547-109306-108515
On the 4-hour level, if 110536 breaks down, look down at 109236-108515; if 110536 breaks and cannot recover, it will be invalidated.
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$ETH Thought:
Ethereum's volume broke through 4493, continue to buy on the right side, recover stop loss.
4445's volume broke down, continue to sell on the right side, manage stop loss well.
Pull back to 4377 to confirm support is valid, add one more long position, stop loss if it breaks 4335.
Ethereum's hourly level stabilized at 4514, looking upwards at 4555-4613.
Pay attention to 4613 above for a short position, stop loss if it breaks 4658.
Left side orders: buy at 4310, stop loss if it breaks 4262.
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Upper pressure levels: 4514-4555-4613
Lower support levels: 4444-4380-4319
On the 4-hour level, if 4429 breaks down, look down at 4367-4316; Ethereum's hourly level has formed a head and shoulders pattern and has broken the neckline at 4485. If the rebound cannot recover to 4485, then continue to look down for closure.