Analyst Chen Shu: Pay attention to the daily chart closing after the high-level consolidation on August 13, midnight market analysis / accompanying trading strategy

Market Analysis: Bitcoin's daily chart did not continue to break upwards significantly today, and the short-term price is still under pressure from 120,000/122,000. Pay attention to whether the daily closing line is red; for the 4-hour chart, support levels are at 116,800/115,500, while resistance levels continue to focus on 120,000 and the high of 122,000. As for Ethereum, after breaking a new high, the daily chart has recorded two green candlesticks and today has once again closed with a red energy bar. The upper resistance level cannot be predicted at the moment; short-term support focuses on 4,260/4,170, and it is not advisable to chase high; rather, waiting for a pullback before entering long positions is more prudent.

Trading Strategy (Published Time: 23:30):

BTC: Long at 11.8/11.72, target at 11.9/11.95; Short above 120,000 looking for a 1-2000 point pullback.

ETH: 4300/4260 long, target at 4360/4400; for a conservative approach, wait to go long around 4170.

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