Crypto Circle Academician: On August 15, Bitcoin and Ethereum shorts plummeted! Bulls faced liquidation, daily K-line fell below support, and short forces are coming!
Current price of Bitcoin is 117800, it is currently 1:10 AM Beijing time, after forming a high-level neck line at 123000, all bulls have cleared their positions, maximizing profits exceeding ten thousand points. Above 123000, do not be in a hurry to leave the southbound medium-term layout, do not look at the news or technical bullish indicators, just observe historical trends and historical turning points. The daily K-line has already broken through the key support, the next step is to see if it can continue to test the medium-term support EMA60 at 113650. The daily K-line has directly dropped from the upper track of 122000 to the middle track of 117000, pay attention to the lower track support at 122000. The four-hour fast line dived from a high position, the main force began to digest the fullness brought by continuous bulls, and the four-hour K-line dropped directly from the upper track to the Bollinger Band lower track at 117000. The overall trend has entered short-term support, thus it can be seen that as long as 117000 is lost, the short forces will come. Those who have not entered the market can focus on the support points.
Short-term reference
Northbound 112500 to 112000, stop loss at 111500, loss of 500 points, target looking at 113000 to 113500, break point looking at 114000.
Southbound 119000 to 119500, stop loss at 120000, loss of 500 points, target looking at 118000 to 117500, break point looking at 117000.
Ethereum
Current price of Ethereum is 4530, it is currently 1:10 AM Beijing time. It has already reminded everyone not to be driven by market emotions and not to chase highs. A pullback to 4500 northbound, taking profits at 4700, is it very stable? Moreover, accompanied by a sharp rise in the market, there is a chance to go south, a situation of both long and short positions. Pay attention to the daily level EMA15 trend fast line support at 4150, the K-line continues to have bulls around the upper track of the Bollinger Band at 4682, this time returning to the Bollinger Band channel with upper track pressure formed, shorts are coming. The four-hour K-line is currently blocked at the lower EMA30 support at 4450. If this support is lost, the next step is likely to hit the Bollinger Band lower track support at 4170. Friends who did not go south near 4750 are advised to wait for the next bottom test before finding a position to go north. There is no need to be too aggressive or rush to open positions; wait for critical points to seize the big wave.
Short-term reference
Southbound trial position 4700 to 4750, stop loss at 4800, loss of 40 points, looking at 4650 to 4600, break point looking at 4550.
Northbound trial position 4270 to 4220, stop loss at 4160, loss of 40 points, looking at 4350 to 4400, break point looking at 4450.