Bearish trend is approaching, is it currently at the bottom?
Bitcoin tried to break through the 120,000 mark twice at the end of last month but failed and retreated. As August just started, it has entered a bearish trend for three days. A few days ago, I also provided a short position. The outlook is still quite clear. Currently, Bitcoin's lowest point touched 111,850, forming a bottom and rebounding, with the price rising and breaking the 114,000 mark, providing over 3,000 points of space. It is obvious that this rebound is also in a repair state. In my personal view, after the market bounces, it will again follow a retracement route. The same goes for Ethereum, with a bottom formation at 3,353, and the rebound space is not very ideal. If this wave does not break through 3,500 and stabilize, it will likewise go lower. My suggestion is to wait for a second round of highs and then mainly position short. For consultation, contact btc0297.
Bitcoin trading suggestion: Position short around 114,600-115,100, with a target of 113,000-112,000 and risk control at 115,800.
Ethereum trading suggestion: Position short around 3,500-3,550, with a target of 3,430-3,380 and risk control at 3,580.
Bitcoin tried to break through the 120,000 mark twice at the end of last month but failed and retreated. As August just started, it has entered a bearish trend for three days. A few days ago, I also provided a short position. The outlook is still quite clear. Currently, Bitcoin's lowest point touched 111,850, forming a bottom and rebounding, with the price rising and breaking the 114,000 mark, providing over 3,000 points of space. It is obvious that this rebound is also in a repair state. In my personal view, after the market bounces, it will again follow a retracement route. The same goes for Ethereum, with a bottom formation at 3,353, and the rebound space is not very ideal. If this wave does not break through 3,500 and stabilize, it will likewise go lower. My suggestion is to wait for a second round of highs and then mainly position short. For consultation, contact btc0297.
Bitcoin trading suggestion: Position short around 114,600-115,100, with a target of 113,000-112,000 and risk control at 115,800.
Ethereum trading suggestion: Position short around 3,500-3,550, with a target of 3,430-3,380 and risk control at 3,580.
