8.20 Midday Bitcoin Ethereum Market Analysis and Trading Suggestions

In a volatile market, the most frustrating thing is not the sharp ups and downs, but the hesitation at the critical moment. Looking back at the early market, after a slight rebound in the price early in the morning, it began to pull back again, then stabilized and fluctuated around 1130. The performance of Ethereum is similar to Bitcoin; we also placed short positions for Ethereum in the morning, taking a 50-point profit before exiting. Currently, the bears are still gaining momentum, and we will continue with a bearish mindset during the midday session.

From the current market perspective, the four-hour level shows a stair-step downward trend. The price has also broken through the lower Bollinger Band, with bearish momentum continuing to expand. The Bollinger Band remains open downward. Although the bulls have shown a slight rebound, it is clear that the desire for upward movement is not strong. The overall trend is still focused on the bears. From the one-hour level, after the market rebounded back above the lower Bollinger Band, the bears are exerting pressure with prominent shadow lines. Currently, the overall trend is in a downward fluctuation pattern, and there is a need for a correction. Bitcoin and Ethereum are still at high levels, and the overall market continues to look bearish. Of course, there is also a demand for a short-term small rebound. The trend in August should gradually move downwards, continuing to wait for the next bottom exploration. Therefore, the midday market will likely experience a rebound followed by a downward movement, so in terms of operation, we will adopt a high short strategy after the rebound.

In the midday session, Bitcoin can enter a short position at 113100, with a target near 112000.

In the midday session, Ethereum can enter a short position at 4120, with a target near 4020. #比特币 $BTC