‼️August 12 Market Analysis ‼️

1. US stock market trend:
Yesterday's price surged and then fell back, ending with a small fluctuation and a doji star. There is currently no significant risk, and it is normal to see adjustments after a rise.
2. #BTC
Yesterday's high was followed by a pullback, and the target for the W-bottom rise on the 4-hour level has been achieved. There are currently no long or short opportunities, so please be patient and wait for about two more weeks.
Will there be another attempt to rally near 117700 in the short term, and can it break yesterday's highest point?
3. #ETH
High-level fluctuations verify that being bearish does not mean going short (being bearish means a need for adjustment, which can occur in two ways: high-level fluctuations and sharp declines).
High-level fluctuations can consume profit-taking positions over time, meaning that large holders are not selling and only retail investors are offloading. At the end of the fluctuations, there is a rapid drop to induce short selling, which is instead an opportunity to enter the market. We need to wait for the signal; there is not enough time and a time window is needed.
4. The current key support level for #BTC is:
Pay attention to the resonance with U.S. stocks tonight.
1️⃣Resistance on the daily chart: around 125000-127000 (may change at any time, might not reach this level), waiting time, looking for a short opportunity. Do not short ETH (remember this)
In the 21-hour time frame, you can enter a long position around 117700, with a take profit near 120000 for short-term contracts. Set a stop loss at 117500.
Note: Greed is something human nature needs to overcome; the more greedy you are at the end, the easier it is to lose money.