8.21 Afternoon BTC ETH Market Analysis: Rebound is Not Reversal, After Consolidation Still Looking Downward
Core Viewpoint:
Bitcoin and Ethereum experienced a strong rebound yesterday, but this morning did not show strong continuation momentum, and the overall trend has again fallen into a range-bound pattern. This tug-of-war type of slow oscillation is not a reversal of the trend but a consolidation during the downward process. Currently, the bearish trend remains dominant.
Market Analysis:
Trend Judgment: The rebound lacks strength for continuation, and the volume has not effectively increased, indicating insufficient bullish confidence in the market, which is a technical repair rather than a trend change. Overall, the bears still hold the advantage.
Rhythm Control: Currently, the market is not in a one-sided decline but operating in a pattern of “oscillation - decline - re-oscillation.” It is not advisable to chase highs and sell lows; it is more suitable to seek high short opportunities near key resistance levels in the range.
Key Position: A breakdown after the oscillation will be a signal for a new round of space opening.
Trading Strategy:
BTC: It is recommended to open a short position near 114500, targeting 112000.
ETH: It is recommended to open a short position near 4350, targeting 4180.
Risk Warning:
In a range-bound oscillation market, strict stop-loss settings are required to prevent risks from false breakouts. The above is only a personal market analysis and does not constitute any investment advice.
