8.12
BTC
Yesterday, the position mentioned broke through the descending trend line, but pay attention to the retest of the descending trend line. In yesterday's market, there was a retest of the descending trend line, but it did not break the descending trend line. Currently, the position mentioned yesterday at the daily level, if there is no significant bullish candle sustaining the rise, one should pay attention to the risk of divergence at the daily level. Currently, the daily closing has remained below 120,000, so we need to observe whether this position can return to within the trend line again. The turning point of this wave of market will revolve around 117,300. If the position of 117,300 is breached, it may lead to wide fluctuations. The range of wide fluctuations is between 112,500 and 120,000. Therefore, in summary, the current large coin is likely to maintain oscillation. Now pay attention to the resistance above and support below, to see which direction it moves, which will determine its directional choice. Support levels are 118,000 - 117,200 - 115,000; resistance levels are 120,000 - 122,000.
ETH
Ethereum at the current position also needs to oscillate. Currently, the four-hour level needs to be repaired. Yesterday, it was mentioned that if the daily level does not stabilize above 4,300, one should be cautious of the risk of daily divergence. Therefore, Ethereum currently either needs to make a retest or continue to consolidate to repair the four-hour level and then choose a direction. To continue to rise, it must not fall below 4,125. Support levels are 4,130 - 4,000; resistance levels are 4,300 - 4,450.
