Daily sharing
Bitcoin has already formed a 1h level rebound. The strength of this 1h level rebound is below expectations, reaching a maximum of only 115720. However, this can still be observed as there is still a possibility for a further upward extension in the short-term structure. Ethereum is similar, reaching a peak close to 3730 but did not break through. However, there is still potential for another upward movement in the structure, so we cannot confirm that the 1h level rise has ended at this position; there is still an opportunity to move upwards.
The member group recently suggested going long on Bitcoin around 112500, and Ethereum around 3390. The current gains are decent, and this morning we suggested taking profits on Ethereum, waiting for another opportunity to re-enter.
What is the overall state of the market?
Bitcoin is currently at the end of its daily level rise. There is an expectation of a daily level correction in late August or September. Ethereum is currently performing well and has the potential to break through 4000 and even exceed historical highs. Most altcoins struggled to rise a bit in July, but are quickly approaching weekly lows with a short-term correction. The market trend shows some divergence. If Bitcoin's daily rise can extend further, Ethereum can continue its independent trend, and altcoins can pull back and continue to rise, the entire market will be more synchronized. So can Ethereum perform a bit better in August? Let's leave it to the market.
BTC short-term
Due to the rapid changes in the market, the article can only make predictions based on the market changes at the time of publication. Short-term traders should pay attention to the latest market changes and use this information for reference only.
1H:
1h level: The structure of the 1h level rebound has already formed here. The strength of the rebound is somewhat lacking. For now, it is uncertain whether this 1h level rebound has ended. If it does not break below 113300, there is still a possibility to extend upwards again to test 117000. If it breaks down, it may have to continue a 1h level correction to around 111800.
15M:
15-minute level: If Bitcoin does not break below 113300, there is still a chance to move upwards for a 15-minute level gain, with the target continuing to look at around 116500 or 117000. If it breaks down, we look at the downward movement at the 1h level.
ETH
Ethereum is actually quite strong, almost breaking our observation point at 3740. A 15-minute level decline has occurred here. If it does not break below 3575, there should normally be another 15-minute level rebound, as the third 15-minute level gain does not diverge.
If it breaks below 3575 again, consider whether the short term is already undergoing a 1h level decline to retest 3300. Therefore, it is still necessary to pay attention to the defense of key positions.
Trend direction
Weekly level: Direction is upward. Currently, a new weekly level rise is underway, with an overall target above 150,000.
Daily level: Direction is upward. A daily level rebound is underway, with the target for this daily rise being around 120,000 to 130,000.
4-hour level: Direction is downward. If it does not break through 117500, it remains within the scope of the 4h level decline.
1-hour level: Direction is upward. It is uncertain whether the 1h level rebound has ended; further observation is needed.
15-minute level: Direction is downward. Let's see if the 15-minute level correction can hold at the lower position.