According to the latest market analysis and technical indicators, Bitcoin and Ethereum experienced a surge on the morning of August 18, but short-term momentum may weaken, and attention should be paid to potential rebound opportunities after a pullback. The following are operational suggestions and market analysis compiled from multiple sources:
Bitcoin Market Analysis
Current Trend
The current price of Bitcoin is fluctuating in the range of $117,000 - $118,000, showing a tug-of-war between bulls and bears in the short term.
If it fails to hold the support at $117,000, it may further retract to the range of $114,000 - $110,000; conversely, if it breaks through $118,500, it may test the resistance at $119,000 - $120,000.
Operational Suggestions
Short-term Long Position: Go long in the range of $117,100 - $117,600, target $119,000, with a stop-loss below $116,600.
Short Position Strategy: If there is resistance at $118,500 - $119,000 during the rebound, a light position can be taken to short, targeting $117,000 - $116,000.
Ethereum Market Analysis
Current Trend
Ethereum rebounded to around $4,560 in the morning, but failed to break through the resistance at $4,580 - $4,600, and may short-term pull back to the support at $4,400 - $4,460.
If it breaks below $4,460, it may further test the support at $4,280 - $4,350; if it holds above $4,500, it is expected to challenge $4,620 - $4,660.
Operational Suggestions
Short-term Long Position: Go long in the range of $4,460 - $4,490, target $4,580, with a stop-loss below $4,400.
Short Position Strategy: If there is resistance at $4,580 - $4,600 during the rebound, a light position can be taken to short, targeting $4,450 - $4,350.
Market Risk Warning
Bitcoin Key Support/Resistance:
Support: $114,000, $110,000
Resistance: $119,000, $120,000.
Ethereum Key Support/Resistance:
Support: $4,400, $4,280
Resistance: $4,580, $4,660.
Summary: The market may first pull back and then rebound in the short term; it is recommended to position long at key support levels while paying attention to breakthrough situations at resistance levels. Be cautious of the Federal Reserve's policy directions and market leverage risks.
