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Event ends: August 9, 16:00 UTC
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Success has no shortcuts; it is built upon countless days and nights of hard work. Every drop of sweat is not in vain, and every moment of persistence brings you closer to your goal. Pave your own path to success with persistence and effort. The Fed data released early this morning startled many, leading to a whipsaw in the overall market. This has shattered the dreams of many in the crypto world. As early as this morning, Lao Chen advised to go long before shorting, suggesting to first follow the rebound under pressure before shorting. The outcome was as Lao Chen predicted; Bitcoin's price initially rose to around 118763 before facing downward pressure. In the early hours, it dropped to a low of 115700, and after the market bottomed out, we advised everyone to go long again. So far, BTC's price has warmed up again, running above 118000. Ether's rebound before the fall was not significant. It hit a low of 3670 before stopping the fall and rebounding.
From early morning to the morning, we laid out four positions: three longs and one short for BTC, with a total gain of 4943 points. For Ether, three longs and one short were laid out, resulting in a total gain of 275 points.
The current four-hour chart shows that the market has established a clear strong upward pattern. If the price can successfully recover and stabilize above the middle upper track in the short term, this will be a strong signal that the market is about to reverse. Today, the intraday K-line is climbing with a strong bullish candle, and its trajectory has returned to between the middle track and the upper track, revealing a strong willingness to impact and test the upper track boundary. Therefore, in terms of intraday strategy, it is recommended to follow the trend and actively go long. #BTC# #ETH#