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Bitcoin hit 111920 this morning, then rebounded. It is inclined to have started a 1-hour level rebound. After this rebound is completed, normally there will be a 1-hour level decline again to retest near the low point, unless this rebound is very strong, then it will directly start a 4-hour level upward move.

Ethereum hit 3354 this morning, the current expectation is that there should be a 1-hour level rebound. If the rebound does not stand above 3740, there should be a third 1-hour level decline to retest near 3300 or 3260.

Overall, it is still inclined that next week, Bitcoin and Ethereum should make the next 4-hour level upward move. Bitcoin's next 4-hour level upward move can either make a higher high or just reach a lower high. The specifics depend on the situation. Personally, I believe as long as Ethereum does not drop below 3000 in the short term, the next 4-hour level upward move still has a very good chance to break through 4000.

BTC short-term

Due to the rapid changes in the market, the article can only predict the market changes at the moment of publication. Short-term traders should pay attention to the latest changes in the market, and this should only be used as a reference.

1H:

At the 1-hour level, it is expected that Bitcoin is already making a 1-hour level upward move. The target for this upward move is to reach the range of 116000~117000. Focus on 117500; if it can break through directly, then we can consider that the 4-hour level pullback of Bitcoin has ended. If it does not break through 117500, then there should be another 1-hour level pullback to retest the range of 111000~112000.

15M:

15-minute level, it is uncertain whether the second 15-minute level pullback has already begun here, it is also possible that the first 15-minute level rebound continues to extend upwards. If the second 15-minute level pullback occurs, as long as it does not drop below 112300, then there will still be a third 15-minute level upward move. The target above should be above 116000.

ETH

Ethereum should also be making a 1-hour level rebound here. The target above is to focus on the range of 3600~3700. As long as it cannot break above 3740, there should be another 1-hour level decline to retest near 3300 or 3260. After that, there will be a new 4-hour level upward move to break through 4000.

I am optimistic that Ethereum can continue to rise in August. I believe that the environment for Ethereum to break 4000 this time is quite different from last December when it broke 4000, and it is unlikely to continuously decline like it did from last December to this April. In the past two weeks, institutions have been frantically buying, with over 1 million ETH flowing out of exchanges. Therefore, after the 4-hour pullback ends, there is still a chance for Ethereum.

15-minute level, Ethereum is currently in the first 15-minute level of upward movement, it is expected that there may be a 15-minute level pullback in the early morning, followed by a third 15-minute level upward move. Pay attention to the strength of the third move.

Trend direction

Weekly level: direction upwards, currently making a new weekly level upward move, overall target looks above 150000.

Daily level: direction upwards, currently making a daily level rebound. The target for this daily upward move is around 120000~130000.

4-hour level: direction downwards, if it does not break through 117500, it is still within the scope of 4-hour level decline.

1-hour level: direction upwards, pay attention to the strength of the 1-hour level rebound.

15-minute level: direction upwards, there will be a 15-minute level pullback in the short term, and then there will be another 15-minute level upward move.