2024.8.20 Today's market analysis: ##btc ##eth

Yesterday's market was volatile. It fell during the day and rose back in the evening. The market still did not show a clear direction. Judging from the strength of the bulls' pull-up just now, it seems that the bulls are going to show their power? Is this really the case?

The chip distribution chart can be seen on the 1-hour chart. The position of VAH has now arrived, and it has come in a pin. There is pressure here. This position is also the position where the previous falling big Yin line was vacant. It is now completely filled. If it is filled, the rise can be completed. There is also a downward trend line suppression here. From the current situation, it is a strong suppression area, and the possibility of reaching the top is relatively high, so wait for 5 minutes for structural changes to occur here, suppress it, and consider short orders. If the breakthrough stabilizes, then observe the suppression performance near 62000.

ETH is even more obvious. On the chip distribution chart, VAH is just hit, and it also falls below the POC position. If there is a structural change in 5 minutes, short orders should be considered, and the target below is VAL2570.

The overall market is still fluctuating, and there is no obvious trend. First, operate according to the high-selling and low-buying, and wait for the trend to appear and follow the trend.