8.22 Friday early morning Bitcoin Ethereum market analysis and trading suggestions

You are more excellent than you think. Don't deny yourself because of temporary difficulties. As long as you maintain a positive mindset and continue to learn and progress, nothing can stop your pace forward. Today's market shows an overall downward trend. Bitcoin faced resistance and fell back after reaching a high of 114797, while Ethereum also experienced a weak oscillation, pressured down from a high of 4370, with a minimum drop to 4228. Although there was a brief rebound during the day, the bullish momentum was obviously insufficient, providing us with a short-selling opportunity. Our bearish strategy was executed as planned, and the target points were realized. Additionally, during the day: we placed a short position for Bitcoin at 114600, taking profit at 113600, successfully capturing a 1000-point range; for Ethereum, the first short position was entered at 4368, closing at 4290, gaining 78 points. In the evening, a second short position was set at 4308, exiting at 4236, gaining another 72 points. Due to small profits, short-term trades are not included in the statistics. Overall, today's oscillation market created multiple high-probability short-term opportunities for us, and the execution of the operational strategy was appropriate, resulting in considerable returns.
From the technical analysis of the market, the 4-hour K-line has consecutively formed 5 bearish candles, establishing a clear weak downward pattern. This five consecutive bearish trend fully reflects the current market's short-term bearish dominance, with buying power noticeably insufficient. As we emphasized in our previous analysis, the current price, when approaching the middle band of the Bollinger Bands, encounters strong resistance. This resistance level is not only the technical pressure point of the middle band of the Bollinger Bands but also resonates with the pressure zone of the previous dense trading area. The market currently lacks sufficient bullish momentum to break through the upper resistance, and we continue to maintain a bearish rebound mindset.
Bitcoin: Short positions can be taken around 113000-113500, with a short-term target of 111500.
Ethereum: Short at around 4250-4280. Short-term 41500 #Gate全球首发上线YZY# #加密市场反弹# #美联储7月会议纪要#