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[Today's Market Analysis - BTC - 8.15]
For educational purposes only, not as investment opening suggestions. Profits and losses are at your own risk.
Plot: The BTC short sellers inherited from the market makers have returned. This morning's closing did not recover yesterday's drop. Therefore, the overall price tends to be bearish and consolidating. The turning point is that the market makers must gradually cover their shorts and the price needs to rise, not by too much. This is what stabilizes the market. Don't panic, it won't drop too deep. There's no rush to enter the market, but don't panic in the medium to long term; this month, BTC will break through its previous high.
ETH is relatively strong, still bullish, but there is some divergence in the chips. Wait for BTC, and ETH will start to continue with a big bullish candle.
Point:
BTC pullback: 116, 115, extreme pullback 113, daily top 12
ETH pullback: 451, 445, 435, intraday peak 468
Day trading strategy: Buy BTC spot on dips, hold short position in contracts.
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