Analyst Liang Qiu: 8.12 BTC ETH early morning market analysis

BTC self-reported after rising sharply from the bottom, the overall increase in the evening is not significant, while ETH once again tested yesterday's low point around 4160 before rebounding and breaking the previous high, reaching a maximum of around 4368, with a 200-point increase in the evening, indicating a strong overall rise. The short position we planned in the evening is still near the opening price of BTC, resulting in ETH directly hitting the stop loss. Currently, after the surge, the market has pulled back, especially BTC is gradually showing a continuous negative trend on the four-hour chart, with the trend weakening. The upper pressure is clearly between 120000 and 120500, where the support and resistance conversion remains effective.

The hourly chart is about to close with a long upper shadow. The market still has further downward space in the early morning. There's no need to chase the rise at this position, after all, BTC did not rise in tandem, and there is still the possibility of further downward movement in the early morning. In the early morning, pay attention to whether ETH can continue to break above the high point; this position can be used as a short-term resistance.

Early morning operation suggestion: continue to long BTC at the current price of 120000 to 120500, target around 118000; continue to long ETH at the current price of 4320 to 4350, target around 4220. If ETH breaks the level, it can be looked at further down.

【The above analysis and strategies are for reference only, please bear the risk yourself. The article review and publication do not have timeliness, please refer to real-time for specifics】 #TOKEN OF LOVE 重磅回归# #BTC重返12万# #晒出我的Alpha积分#