8.19 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

Occasionally turning off the market monitoring software, you will find: the red and green of the candlesticks cannot compare to the scenery outside the window; the numbers in the account weigh less than the hot tea on the table. Heidegger said, "Man dwells poetically on the earth"; no matter how lively the cryptocurrency world is, it is only a part of "dwelling". You can cultivate in the candlesticks, but do not mistake the field of cultivation for the entirety of the world.

From the current 1-hour chart, the cryptocurrency price has experienced a slow rise and failed to test the resistance level of 117,000. It is currently fluctuating around 116,000. This pattern clearly indicates: the selling pressure above has not been fully digested, and the support below is relatively solid, with bulls and bears temporarily in a balanced game state. At this time, it is most undesirable to operate blindly and aggressively; whether chasing prices or selling off, it is easy to fall into the trap of short-term market corrections. Observing from the 4-hour cycle, although the price has had a slight rebound after a previous decline, it has not been able to effectively break through the key resistance level of 117,000; however, the previously emphasized short-term support level has been successfully reclaimed. This signal confirms the rationality of the current corrective market and clarifies the direction for subsequent operations—there is no need to overly entangle in short-term fluctuations; placing short positions around the key resistance level above will be a more prudent strategy.

In the afternoon, Bitcoin can be shorted at 116,100, targeting around 114,600

In the afternoon, Ethereum can be shorted at 4,310, targeting around 4,250 #比特币 $BTC