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8.23
The Bitcoin surges strongly, Ethereum hits a new high again. How should we choose between long and short positions in the future market?
From the 4-hour perspective, after a significant rise in Bitcoin accompanied by minor adjustments, there are signs of stabilization. However, the long upper shadow indicates strong selling pressure, and the shrinking upward movement suggests that the continuation of the bulls still requires further observation. From the 1-hour perspective, the market volatility has narrowed, and the bullish momentum has been fully released, indicating that there is still a demand for a pullback in the future.
Operation Suggestions
Bitcoin: 1165-1170 range, target around 1150-1140.
Ethereum: 4760-4790 range, target around 4650-4550.
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