At noon, the market fluctuated between 118,000 and 119,200. From the hourly chart, both the upper and lower fluctuation boundaries are moving downward, but the decline is not rapid, and it may drop a little more in the short term. Attention should be paid to the 118,000 position; in the short term, the likelihood of this position holding is quite high.
Currently, the market is oscillating back and forth between the middle and lower parts of the fluctuation range, making it quite difficult to push through the middle line; however, when it approaches the lower line, it hasn't dropped too significantly.
Tonight's CPI data is particularly important, so we need to closely monitor market changes to adjust operational arrangements.
Bitcoin has retraced to around 117,500-118,000 for buying, with a target looking towards around 119,000-119,500.
Ethereum has retraced to around 4,220-4,180 for buying, with a target looking towards around 4,320-4,370.
When the price of the big pancake rose to 122,400 yesterday, there were a lot of sellers, which caused the price to drop significantly. The support level of 117,700 on the daily chart is crucial and serves as a dividing line between bulls and bears. If the price retraces to this level and does not break below it, there is still a possibility of a rebound in the short term.
Although the four-hour trend has weakened, the buying power on the daily chart continues to increase. The CPI and interest rate data will be released tonight, and it is expected that the price will surge again at that time. BTC: You can go long around 118,000-118,500, with a target looking towards 119,300-120,000.
Trading Reminder: The US CPI data will be released tonight, which will directly affect the interest rate cut expectations for September, thereby impacting the Bitcoin market. Being able to interpret the fundamental data is like giving away money.
XRP will be an 'ideal' entry point for those who have not yet entered. We are just sitting at the ATM, but I think we may soon get involved. As long as the green zone remains unchanged, we can aim for a high range point/new ATH.
On the morning of August 12, the situation regarding Bitcoin and Ethereum can be understood as follows: On the Bitcoin side, the 4-hour candlestick chart has shown five consecutive bearish green candles, and trading volume has noticeably increased, indicating that the selling pressure is stronger and dominant. The MACD technical indicator has formed a bearish cross, and the green bars are continuing to lengthen, suggesting that the selling force is accelerating, while the buyers' counterattack is insufficient, creating a significant pressure in the overall market. The price did not surpass the middle line of the Bollinger Bands and has dropped back down. The increased trading volume is largely a result of widespread selling. Currently, there are no clear signals indicating a bottom has been reached, and it may take some time to form a bottom in the short term. Personal suggestions: • You can consider shorting Bitcoin in the range of 119300-119800, with a target looking towards 118000-116500. • You can consider shorting Ethereum in the range of 4300-4330, with a target looking towards 4180-4050.
Sentiment indicators speak volumes. Every major market peak is when market sentiment is at its peak, often displaying extreme greed. However, the current market indicators have only just shifted from neutral to greedy, and are still quite a ways off from extreme greed. So don't be afraid; this cycle has only just begun!
Emotions don't deceive you; only your inner greed and fear can deceive you!
SOL has risen for 6 consecutive days on the daily chart, and its trend has rebounded like a V-shaped bottom, breaking through all moving average resistance and returning to an upward trend.
Its MACD indicator has also started to move upwards, and it looks like it might form a golden cross above zero. If it really forms, there may be a new wave of increases, with a chance to test the resistance level of 200.
It is recommended to buy long around 179, with a target of 198.
Bitcoin has strongly broken through the $120,000 mark, reaching a high of $122,000, marking a new high since July 18, with a daily increase of 0.8%. Ethereum also broke through $4,300. At today's exchange rate, one Bitcoin is worth 860,000 RMB, making it very difficult for ordinary people to invest.
I was feeling unwell before and did a genetic test, and the results showed that my DNA is abnormal! Other people's DNA is made up of two strands of nucleotides, while mine is made up of Bitcoin and Ethereum chains!
After watching the K-line chart for 1 hour, the possibility of a short-term increase is relatively high.
The short-term support level at 120000 is very critical. As long as it can hold and not break, the market's upward trend will not change, and the bullish momentum may continue, with further opportunities to rise. On the contrary, if this level cannot be maintained and breaks, one must be cautious as the market may correct.
Operation Suggestions: For Bitcoin, look to set long positions in the range of 121100-121600, targeting 122700-123200;
For Ethereum, look to set long positions in the range of 4300-4320, targeting 4360-4450.
Ethereum's long positions took profit and exited in the early morning. Not daring to open positions isn't necessarily a step back; often, it's a step forward, a sign of respecting the market.
Every day, with the market's fluctuations, you can find 100% analytical reasons, but the truly worthwhile opportunities may only be 20%, or even less.
Market analysis ≠ trading opportunities
Once you truly realize that most fluctuations are just noise, you'll find that reducing your trading frequency actually earns you more money~
Polymarket is betting real money, with 91% betting that Ethereum will rise to 4400 this month, and 64% betting it will rise to 4600. There are still 20 days left this month, how much do you think ETH can rise?
Recently, this price comparison has been rising, and it hasn't really dropped much. It remained flat on Saturday and surged again over the weekend, now back to the high point of 119500. There hasn't been much opportunity for a pullback, and it looks quite strong, so it's still better to continue buying low!
Morning suggestion: You can buy Bitcoin around 118600-119100, with a target towards around 120000-120500.
You can buy Ethereum around 4210-4250, with a target towards around 4330-4380.
In terms of the amount of funds, ETH's purchasing power yesterday was almost on par with BTC. Investor sentiment towards ETH remains quite high. This afternoon, we also specifically analyzed the purchasing power structure of ETH. The purchasing power brought by ETHA has already surpassed that of Coinbase, with a gap of less than 40% compared to Binance. This shows the enthusiasm investors have for ETH.
BlackRock remains the main force behind ETH purchases. Unlike BTC, the performance of ETH's ETF-level market is quite good, with an exchange rate of less than 0.034. However, the amount of funds being invested is now on par with BTC. Traditional investors and ETFs are currently the main driving forces behind the rise of ETFs.