ETH and BTC recovered part of their losses in last two days. The peaks of ETH, however, are still getting lower and lower on 4H chart, this may indicate it is still in a downtrend. While BTC made a series of higher highs, given it is still in a long term downtrend, I would consider it a warning signal.

ETHUSD

I gave a short setup in last analysis which is still with a little bit of profit now. Given the fact that BTC is leading ETH in most time, I’m tend to close my short position here.

If the price move up above 321,the Aug. 18th high, the It may be a chance to long it with a ST at 300 and TP 400. Alternatively, if it drops below 270, then short it, with a ST at 280 and TP 250.

BTCUSD

I gave a setup of short BTC at 6500 and SL at 6700.Now, it has stopped out with approximately 3% loss. Given the fact that it break above the resistance of 6800, there is likely some bounce incoming.

Specifically, if it retrace back to 6600, it is a good place to buy it low, ST at 6400 and TP 7200.

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