Bitcoin Ethereum today's market analysis

The recent trend of Bitcoin has been relatively weak, with insufficient trading volume, making the upward movement appear tired and lackluster, and it falls back as soon as it encounters some pressure. Switching to the 4-hour perspective, Bitcoin is hovering near the upward trend line, without breaking below it, showing a slight rebound, but the rebound is somewhat weak. The key pressure for Bitcoin is currently around 116000, which is the bottom of the consolidation box and was previously a support level. If it breaks below this level, it will turn into a resistance level. If Bitcoin manages to break through the 116000 position and remains stable without falling below 11600, then long positions can be entered; if it falls below, strict stop-loss should be applied, with take-profit set at 117500 and 119000 for staggered take-profit. The support level below Bitcoin to watch is 1120000; if it breaks below, long positions should stop-loss. Further support is around 110000.

The trend of Ether is stronger than Bitcoin, and the rebound force is the same. After Ether dropped to the support near 3370, it rebounded to around 3720. For Ether to continue upward, it needs to break and stabilize above 3670; otherwise, it will continue to drop. Today's upper pressure for Ether is at 3670, 3730, 3820, and around 3880. The lower support is at 3600, 3550, and around 3454. The support at 3550 for Ether must not be broken; if it breaks, this round of increase will end. The position at 3370 can have a light long position placed.

Trading should be done at the positions of support and resistance, which increases the win rate by 30%, instead of opening a position based on your feelings in the middle of the mountain. Trading requires patience; your position cannot be profitable immediately after opening. #八月行情预测