8.21 Morning Thoughts
The big cake and the aunt’s big-cycle structure still remains upward, but after several consecutive days of sharp rallies, the short-term indicators have entered overbought territory. Most likely, the intraday price action will be dominated by wide-range consolidation and volatility. The risk of chasing the rally is high. $BTC $ETH $SNDK
As for the approach, still prioritize waiting for the price to pull back to key support, stabilize, and then go long on a dip.
BTC pullback reference range: 71200–71800 for buying the dip
Defensive protection level: 70800
Upside reference targets: 72800, 74000
ETH pullback reference range: 2220–2260 for buying the dip
Defensive protection level: 2200
Upside reference targets: 2350, 2420
The big cake and the aunt’s big-cycle structure still remains upward, but after several consecutive days of sharp rallies, the short-term indicators have entered overbought territory. Most likely, the intraday price action will be dominated by wide-range consolidation and volatility. The risk of chasing the rally is high. $BTC $ETH $SNDK
As for the approach, still prioritize waiting for the price to pull back to key support, stabilize, and then go long on a dip.
BTC pullback reference range: 71200–71800 for buying the dip
Defensive protection level: 70800
Upside reference targets: 72800, 74000
ETH pullback reference range: 2220–2260 for buying the dip
Defensive protection level: 2200
Upside reference targets: 2350, 2420
