2024.8.30 Today's market analysis: ##btc ##eth

Yesterday's market showed a V-shaped reverse action again. Compared to what everyone has gotten used to, this may be the result the market wants. "Habit" is terrible this time. When you are used to a certain market action, a similar action will appear at this time, and you will involuntarily enter the market. However, the same action will not appear this time. If you ignore it, you will suffer heavy losses!

Yesterday's V-shaped reverse, the high point almost did not give any form, and it went down directly. Then a large Yinxian gap appeared again, which is a potential need to be filled. But it should be noted here that after breaking the new low below, this wave of rise broke the previous high point. It fell back to 0.618 and stabilized, which may change the 1-hour decline to rise. So here you need to consider whether to intervene in long orders, and look up to see the 1-hour structure change.

It is clearer when it comes to 15 minutes. There is a downward trend line here. If it breaks through and stabilizes, you can consider long orders. This is the neckline. The figure here is very similar to the structure of the head and shoulders bottom, and looking up at the high point of 59667. There are two trends here. If the final target is directly upward and breaks 61144, or if there is a false breakout and retraction during the rise, you can participate in short orders.

In general, consider long orders first, pay attention to price behavior in the rebound stage, and go short once there is a short opportunity, otherwise continue to hold.

ETH is clearer. After the false breakout before the low parallel bottom is retracted, it will retest the parallel bottom support again. If it holds up, it is natural to consider long orders.

The overall situation is still in the digestion process after the big market, be patient. Wait until the monthly line is closed before considering other big moves.