Analyst Chen Shu: The pullback on 8.14 did not show a significant retreat. Midday analysis and strategy for Bitcoin and Ethereum market.

Bitcoin, looking at the daily chart, has today broken through to a historical high, reaching the peak at 12.45. Currently, there is a short-term pullback, and short-term support can be focused on the 12.06/12 thousand line. On the 4-hour chart, the last four-hour candlestick formed a long upper shadow red inverted line. Currently, the short-term has come down to a small support level of 12.17. Attention should be paid to whether the subsequent trend will continue with a pullback. At present, the overall market is showing a strong bullish trend, and it is difficult to judge where the true top will be in terms of operations. Shorting at the top requires strict stop-loss measures.

Ethereum has consecutively broken new highs on the daily chart, reaching a peak of 4800, getting closer to the historical high. Currently, on the daily chart, there is renewed momentum to break new highs. In the short term, attention should be paid to the pullback strength after approaching the 4880/4900 level. The 1/4 hour level is currently steadily moving upwards along the MA5/10 daily moving averages. In terms of operations, it is still recommended to focus on buying on pullbacks, as the peak for short positions cannot be predicted at this time.

Midday operation idea (written at: 15:30):

BTC: 12.05 long, pullback 11.95 add long, target 12.2/12.3

ETH: over 4650, pullback to 4600 to add more, target 4750/4800

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