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Analysis of long and short positions for BTC/SOL/ETH contracts on August 28: Waiting for the directional choice in September.
The market rebounded during the day, which was also within our expectations. The convergence between MA120 and EMA15 on the daily chart will continue until it breaks out of the peak position in early September, at which point we will have a clear direction.
The short-term pressure for $BTC today is at 113450, and if it goes up, it will reach 114000. A short-term pullback support at 111500 should hold for a continued rebound, with further support at 110500 below.
$SOL's short-term resistance today is 213. If it stabilizes here, it is likely to surge towards the resistance level of 217. 217-219 is a major resistance on the daily chart. The support levels below are at 206 and 203.
$ETH Ethereum is still relatively weak today. If the resistance level at 4585 holds firm, we should consider a support-resistance swap to look at resistance levels of 4640 and 4688. The support at 4510 can still lead to a rebound if it holds, with further support at 4440.
In summary, the current market situation aligns with our previous judgment of a converging fluctuation expectation, and this convergence is estimated to be completed by early September. We will just wait for the direction given to us by the dog trader, and it is estimated that the amplitude of this direction will not be less than 10%. (Bringing you the latest market analysis and precise pin points daily, long and short positions are for B friends' reference only, with strict stop-loss and take-profit.)