Bitcoin and Ethereum Evening Trading Recommendations and Future Trend Analysis: 8/1

Bitcoin and Ethereum Evening Trading Recommendations and Future Trend Analysis: 8/1 The current market is in a downtrend. Although a bullish engulfing pattern has appeared on the technical charts, overall market sentiment and trading volume indicate that the downward momentum remains strong. The influence of the external environment cannot be ignored; market sentiment is leaning towards fear, and investors lack confidence in risk assets, which may lead to further capital outflows. Furthermore, the combination of a slight decline in the US dollar index and rising Treasury yields further increases the pressure on cryptocurrencies. Therefore, the market may experience consolidation in the short term. Given that the current market is in a downtrend (major premise) and strong support has formed at 62810.3 (minor premise), going long near the support level is a relatively prudent strategy (conclusion). Analyst Xiao Ma's Diary Trading Recommendations: Bitcoin: Go long directly at the current price around 62500-62900, target around 64000-64500. Ethereum: Go long directly at the current price around 1840-1860, target around 1920-1940.