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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Wall Street Journal 08.08: After Wu Song killed the tiger, what happened to Wu Song?
Viewpoint: After we published a morning report titled "The Bulls Perform Wu Song Defeating the Tiger" yesterday morning, the Bitcoin price movement seemed to follow the script laid out in the article, first dipping to around the support zone of 114400, then the bulls made a strong effort to drive away the "blocking tiger" at 115700, reaching a height near 116500 for consolidation. The handling of the day's highs and lows was remarkably smooth! Now let's talk about the predictions for today's and this weekend's market changes that fans are concerned about. Did everyone notice that early this morning the bears once tried to pull Bitcoin back to the "blocking tiger" at 115700, but the bulls quickly kicked the "blocking tiger" away like Wu Song, allowing Bitcoin to soar again. This trend demonstrates that the bulls currently have a clear advantage, indicating that there is potential in the future market to challenge larger resistances at 118000 and 119000.
Operating Strategy: Currently, the bulls have the advantage. Everyone should adhere to the strategy of buying on dips, focusing on low absorption points near 116800 and 116500, and seeking high sell points in the resistance area of 118000 to 119000.
Risk Warning: Continue to pay attention to the uncertainties of the U.S. stock dynamics on August 8 and the military developments between the U.S. and Russia. If the price effectively falls below 115700 points, the bulls should consider taking profits and stopping losses.