August 29 morning: Short-term trading recommendations for bitcoin and ethereum.
Bitcoin fell from $65,000 to a low point near $57,800, and it encountered the support level we mentioned earlier. This position is a bit critical. Once the entity falls below, it will test the EMA50 moving average of our weekly K-line at this position. Today, we will first focus on the resistance level of the hourly EMA50 moving average. We will pay attention to $57,700 below. There won't be much volatility intraday, and there will be a range adjustment and absorption here. Please watch the short video released today by Mr. Wang for specific ideas and spot strategies: Wang Pan Coin Analysis.
Short position entered at $60,300 for today's intraday rebound.
Risk control: 650 points.
Target: near $58,500.
Retracement: Long position entered at $58,150.
Risk control: 600 points.
Target: near $59,600.
ethereum rebounded and entered short positions at 2550
Risk control: 32 points
Target: 80 points
2450: entered long positions
Risk control: 38 points
Target: 80 points
The trading strategies given on the morning of August 28th and in the live broadcast room last night are all in a profit-taking state. Overall, the current price is in a range-bound consolidation trend: Bitcoin has gained more than 3000 points in both long and short positions. Before the end of the broadcast, we advised everyone in the various community to short ethereum at 2550, which is also profitable.
