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Market analysis for August 8
$BTC 4-hour breaks through W bottom, key support 115500
The upward trend is clear in 1 hour.
$ETH 4-hour bottom breakout 1-hour trend around the moving average is clear. You can wait for the fourth wave pullback to enter a long position.
$XRP bullish at 2.8 bottom, 20 points so far
$UNI 1-hour trend is clear, bullish
Summary: The current 1-hour trend is clear, and we are in the 3rd wave of movement, which tends to extend. Be patient and wait for this wave to finish; do not hastily enter a short position. Continue to hold low-position long positions, and consider reducing your position size!
Wait for the fourth wave correction to appear for the long position, then increase the position again.
Details: The pullback of the fourth wave can be observed near the 60 moving average on the 30-minute chart or the 60 moving average on the 1-hour chart. If the price approaches this position, switch to the 5-minute chart to look for a bottom reversal signal breakout and the appearance of a golden cross on the 5-minute moving average, indicating a bullish arrangement. This essentially marks the arrival of the fourth wave in the current market.
Currently holding long positions in BTC, ETH, UNI, SOL, and XRP, all of which are in profit, except for Bitcoin where the profits have decreased, while the profit-loss ratios for the others are all over 300%. Due to the limit on the number of images, I won't post them.
Follow me, a trader narrative who only focuses on trends, 🉑 free to copy #ETH whale accumulation.
#BTC Trend Analysis