Early Morning Trading Outlook for August 18
$BTC Based on the current market trend, the pullback has confirmed that support is effective. Bitcoin has held above the 64000 level, while Ether has held the 19000 threshold. The short-term bull-bear dividing line has been effectively broken through, and resistance has officially turned into support. The strategy needs to be adjusted promptly to follow the market trend. The overall strategy is to buy on pullbacks at low levels, avoid blindly chasing highs, patiently wait for pullback opportunities, and only trade setups with certainty. Trend-following trading does not require fighting the market and allows for greater room for error, resulting in a more stable mindset amid intraday volatility. Bottom-fishing and top-fishing against the trend are full of unknown risks and can easily lead to repeated stop-losses. Follow the broader trend, filter out messy short-term signals, adhere to risk management, and steadily capture market gains.$ETH
On the 4-hour chart, the market had been moving lower all the way before bottoming out through low-level consolidation. As bearish momentum gradually ran out, the bulls began to gain strength and drive a reversal, with the lows continuing to rise. The market is now moving upward to test the previous resistance range. The bulls have the upper hand, but after the consecutive rise, the market needs a pullback and consolidation. On the 1-hour chart, the upward momentum has been smooth and the short-term trend is favorable. However, the rapid rise has consumed considerable bullish momentum, while selling pressure above is gradually emerging, making a pullback after a sharp rise for a shakeout highly likely. Overall, the structure across both the larger and smaller timeframes has shifted from weak to strong, with a bullish bias. Directly chasing highs is not recommended; patiently wait for a pullback to support before considering entry. Closely monitor the resistance above. If the market continues to fail to break through, it is highly likely to enter a period of consolidation in the short term.
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Early Tuesday Trading Strategy
Bitcoin: Buy near 64000-63700, targeting 65000
Ether: Buy near 1900-1890, targeting 1930