Analyst Liang Qiu: On 8.18, BTC and ETH had a great victory, currently looking for short-term rebound near support.

BTC ETH surged in the afternoon yesterday after reaching a high of 4574 and around 118550, and then experienced a continuous oscillation and decline. The overall decline was relatively large. The Kongsan Silk Road that we repeatedly reminded in yesterday's afternoon and early morning videos also fell as expected, and the overall space was still quite good. Currently, the lowest point reached 114900 and around 4248, which is not too far from the previous support of the box. There is no need to chase long positions; we can first look for a rebound, but also pay attention to the breakdown situation below.

The K-line pattern on the daily level shows that after a recent price surge, there has been a continuous decline, currently forming a clear downward trend. In the last two days, there have been consecutive bearish closes, and it has broken below the previous low support. On the 4-hour level, it presents a "head and shoulders" pattern, with the right shoulder confirmed to have broken below the neckline near 4450. In terms of technical indicators, both DIF and DEA are operating below the zero axis on the 4-hour cycle, and the histogram is expanding, indicating that bearish momentum is increasing. The daily level also shows a death cross, with bears in control. However, in the short term, as the market drops to the lower edge of the previous range structure, a rebound can be anticipated, with attention on resistance at 4400 and 119000 remaining unchanged.


Operation suggestion for BTC around 114500 to 115000, target around 117000; for ETH around 4230 to 4260, target around 4350.

[The above analysis and strategy are for reference only, and risks are to be borne by yourself. The article's review and publication may not be timely, and specifics are subject to real-time conditions] #Gate七月透明度报告发布# #BTC ETF持仓破1530亿美元# #美联储终止新型活动监管#