The second bottom is coming ⚠️❗️❗️

After the trend of the past two days, we can see that Bitcoin has touched around $52,500 and started to rebound. It has failed to effectively cross around $54,670 twice in a row. It seems that it is preparing to test the 52,500 position for the second time to see if it can be the bottom.

The recent trend of ETH is worth observing. On August 5, the lowest point of the last round was around $2,110, and this wave of second bottoming has reached around $2,150. When the price runs to the critical moment, many big whales can't bear it and start to buy the bottom of ETH. Now the trend is around 2,310, and the price has been hit down several times in a row. The small level has already had an M-top signal. The support position around $2,223 below is very important. If it does not fall below here, the follow-up will be a bullish pattern. So when the price comes to this place, you can bet on a big rise with a small loss.

Whether it will continue to bottom out or explode, the answer should be revealed on Monday night. At present, the price of BTC has touched the lower track of the Bollinger Band for one hour. If it breaks here, the price will continue to look for support near $52,500.

ETH doesn't seem to want to fall anymore, but it can't withstand the increase in issuance. Ethereum has closed a long hammer line in 4 hours, and accompanied by a very large trading volume. BTC doesn't look so obvious, so now we still have to focus on low-long. Although the current monthly line is very scary, the trend is mainly from small to large, and slowly repaired.

From the liquidation map, there are already many people buying the bottom near 53,100, but compared with the huge amount of shorts, it is still not worth mentioning. Even near 54,670, there are many people chasing shorts. Don't blindly chase shorts. Low-long is the main theme. If 51,000 is not broken, the space below is not so easy to open.

BTC support below: light long position around 52500

ETH support below: light long position around 2223

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