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[Today's Market Analysis - BTC - 8.10]
For educational purposes only regarding technical analysis, not as investment advice. Profit and loss are at your own risk.
👉Plot: If you bought more ETH according to the daily report direction yesterday, then you would be feeling good again.
BTC is now somewhat following ETH; after ETH's explosive rise, BTC has to rally a bit as well. BTC is still an inherited short position, with poor liquidity over the weekend. However, it is important to note that BTC has shown a chip top divergence, and yesterday when it surged to 117X, the short positions were further intensifying. Pay attention to short-term risks.
The ETH whales are still maintaining a strong bullish momentum. The only uncertainty is not ETH, but BTC. BTC has not reversed from the shorts of the past few days, but rather has a chip divergence. If BTC goes down, then ETH will have a slight pullback.
👉Point:
BTC pullback: 1154, 114, intraday top 119
ETH pullback: 42,415, extreme pullback 40, intraday top 44
🌟Intraday trading strategy: Buy ETH on pullbacks (small initial position), short BTC on increasing bearish volume. Buy BTC on dips.