Analysis of the morning market on August 21
BTC fell below 60,000. I have publicly predicted it will form a a door-like shape movement within a day, then will rise with a V-shaped reversal pattern on the chart. At the same time, I also said that Ethereum will also decline in line with BTC, but the decline of Ethereum will be smaller. Although Ethereum’s movement is weak, it has increase and decrease with samll fluctuation. However, there will no longer be a situation where Bitcoin has a slight falls while Ethereum has a sharp decline. Ethereum's downward space is limited. The figure below for Bitcoin has showed its support level. The current position of thedoor-like shape pattern just hit the support level. We successfully grasp this market trend.
On the Ethereum side:the first support level is between 2540 and 2470.
The current lowest spike is at 2556, which is very close to the support level. There may be a short selling trap to liqudate the longs in the support area once more today.
