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‼️Market Analysis on August 12 ‼️
1. US stock market trends:
Yesterday's price rose and then fell, with slight fluctuations resulting in a doji star. There is currently no significant risk, and adjustments after a rise are also a regular operation.
2. #BTC
Yesterday's rise was followed by a pullback, and the 4-hour level W-bottom rise target has also been achieved. There are currently no long or short opportunities. Please be patient and wait, as it will take about two more weeks.
Will there be another attempt to rise near 117700 in the short term, and will it be able to break through yesterday's highest point?
3. #ETH
High-level oscillation confirms not to short (short means a need for adjustment, and there are two ways to adjust: high-level oscillation and sharp decline)
High-level fluctuations can consume profit-taking positions over time, meaning that large holders are not selling and only retail investors are offloading. At the end of the fluctuations, there is a rapid sell-off to induce short positions, which instead presents a buying opportunity. We need to wait for signals; there isn't enough time yet and a time window is required.
4. Major market #BTC current key support level:
Pay attention to the resonance with the US stock market tonight.
1️⃣ Resistance above on the daily chart: around 125000-127000 (it may change at any time and may not reach this level), waiting time, looking for a shorting opportunity. Do not short ETH (remember that).
At the 21-hour level, you can open a long position near 117700, with a take profit around 120000 for short-term contracts. Set a stop loss at 117500.
Note: Greed is something that human nature must overcome; the more greedy you are at the end, the more likely you are to lose money.