8.1 Market Trend Analysis:
$BTC , $ETH are following the script, and I estimate many people will be crying when they wake up today.
Yesterday, Sister Meow's market analysis reminded us that 117 is a key level, and there might be another wave of selling, and it happened just as mentioned.
Currently, BTC has falsely broken below the previous low of 11470, and a slight rebound is expected during the day, but if the rebound is weak, it will continue to decline. ETH is similar; it found support at 3600 and bounced back above 3700, but if it can't hold 3500, it will look to go lower.
Now is not the time to chase the lows or impulsively buy the dip; it's safer to short after a rebound. The market in August is fierce; be cautious and wait for the next real big opportunity.
The altcoins are not actively following the rise and are quick to drop. Today's decline is relatively restrained, within 3-5%, but overall liquidity is poor, and the market can easily change direction when there is no volume.
This wave might be brewing a big trend; don't FOMO, patience is key.
