Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (August 18)

Bitcoin/Ethereum has been trading in a narrow range recently. One positive aspect is that Bitcoin has seen a slight upward move since last night, while Ethereum and altcoins haven't followed suit. While Bitcoin's seemingly strong upward move has been accompanied by relative inactivity in Ethereum and altcoins, it suggests the market hasn't truly started its upward trend – a typical bull trap. The 4-hour chart shows that after reaching highs near 1920 and 64500, the price retreated with a small-bodied bearish candle, indicating a slight slowdown in downward momentum, but the market remains weak. The early morning pullback resulted in a larger bearish candle, almost completely erasing the previous day's gains, forming a preliminary bearish engulfing or dark cloud cover pattern, indicating significant selling pressure at higher levels and a potential short-term pullback. Trading suggestions: Short Bitcoin near 64400-64800, target 62000-63000; Short Ethereum near 1905-1920, target 1820-1850. Analysis and strategies are for reference only; please bear your own risk. The article's review and publication are not timely; please refer to real-time information.