Director's 1170th original daily market analysis
2023 .8 .17
1. Market sentiment:
2. Chart structure:
1、#BTC
#BTC 1H structure:
At present, the 1H structure of Bitcoin is still following the departure pen trend mentioned yesterday. It can be seen that the current departure pen is already in a non-divergence state, which means that if the subsequent rebound cannot be pulled back to the center, there is a high probability that there will be another 1H decline.
The entire high-level 4H decline has not been completed, and in the short term it is in a downward trend.
Be patient and wait, the large-scale trend is unlikely to change much.
#BTC 15F structure:
At present, the structure of the 15F of the big cake is still moving away from the pen. If the current 15F decline is seen in the short term, will it form a 5F bottom divergence?
If it is established, then the decline of 15F will come to an end, and there will be a rebound trend of 15F, but the height of the rebound also depends on whether the center of 15F above can be broken through. If it breaks through, there will be hope, but if it fails, it will be very difficult.
2、#ETH：
#ETH 1H structure:
Since the stock price fell below the 1H center, it has been falling continuously, and the overall trend is still very bad.
At present, the downward trend of this 1H has not ended yet, and it depends on the market. Even if there is a rebound in the future, it will be difficult. Wait patiently and see if the market can stabilize. I still do not recommend participating in the short term.
4. Warm Tips
Investing is risky. Invest with spare money. Remember to never fully invest and never take loans. We only provide information and do not constitute buying or selling advice. Buying and selling is free and you bear the risks yourself.