8.20 Morning Bitcoin Ethereum Market Analysis and Trading Suggestions

In the mysterious sea of opportunities and challenges in the cryptocurrency world, the scene of "everyone else is making money, and you are just watching" is constantly unfolding. Looking back at the overnight market, the price ratio also fell throughout the day yesterday. In the evening, we set up short positions and exited with a gain of over 1800 points. As nighttime approached, the price ratio showed no signs of slowing down and continued to plunge. We set up short positions again, which proved to be validated as it dipped to the low point of 112767. From this, we also gained over 1000 points before exiting. The movement of Ethereum is similar to Bitcoin, showing a slight pullback after reaching a low point before rebounding.

From the four-hour level, the market shows a clear characteristic of bearish candlestick arrangement, forming a phase of corrective trend. It is worth noting that each time there is a spike and pullback, the market enters a certain period of adjustment, but this has not changed the overall direction of movement, which is still dominated by a bearish trend. On the technical indicators front, the market has formed a top divergence pattern, which signals that there may be a pullback pressure on the current trend, indicating that bearish forces are continuously accumulating and the depth of the trend is also deepening. Overall, the short-term pattern dominated by bears is expected to continue.

In the morning, Bitcoin can be shorted at 1131000, targeting around 1112000.

In the morning, Ethereum can be shorted at 4130, targeting around 4020. #比特币 $BTC