BTC, ETH, and BNB Trend Analysis and Position Entry Strategies for August 23rd

Clouds pass over mountaintops, water flows under bridges.

Short openings are like rats, long openings are sideways.

1. ETH

Price Trend: ETH's price has surged significantly in recent hours, breaking through $4,800 and reaching a high of $4,888.49. It has very strong upward momentum in the short term.

Technical Analysis: The moving averages show that the price has broken through multiple moving averages, particularly the 5-day and 10-day moving averages, indicating continued upward momentum. The MACD indicator also formed a strong upward signal above the zero axis. It is recommended to hold or wait for a pullback before re-entering the market.

Position Entry Strategies: Consider entering a long position on a pullback to around 4,560-4,750, but remain vigilant. If it breaks through $4,888, chase the price higher with a stop-loss at 4,500.

BNB

Price Trend: BNB has also experienced significant gains in recent hours, breaking through the $900 mark. It has shown strong short-term upward momentum.

Technical Analysis: The MAs show that the price has broken through multiple moving averages, and the moving averages are aligned upward in the short term, suggesting further price increases. The MACD also shows upward momentum, but the gap between the DIF and DEA is not wide, suggesting a short-term pullback is possible.

Opening Strategy: Consider entering a long position if the price pulls back to the $875-890 range. If it breaks through $901.76, buy higher in batches with a stop-loss at $860.

3. BTC

Price Trend: BTC's recent surge from $116,250 to $116,836 has been very strong, breaking through previous resistance levels.

Technical Analysis: The price has broken through the resistance of the 10-day and 25-day moving averages, and the MACD is also above zero, issuing a strong buy signal. While the price has strong upward momentum, given the wide gap between the DIF and DEA, a short-term pullback is possible.

Opening Strategy: Wait for the price to pull back to $113-115,000 and enter the long position in batches. If it breaks through $116,000, consider chasing the price higher. Set a stop-loss at 114,000.

Currently, the short-term trends of #ETH , #bnb , and #BTC all show strong upward trends. We recommend looking for entry opportunities during pullbacks.

Place an order within the pullback zone and set a stop-loss to mitigate risk.

If the price continues to break through the current high, there may be further room for growth. Ether and BNB will see positive figures, so it's not a big deal to consider chasing the price higher.