Analyst Liang Qiu: On 8.13, ETH and altcoins surged wildly. How much longer can the market continue?

ETH surged last night, propelled by CPI data, with nearly 400 points of upward movement throughout the night. The upward trend is very obvious, and the altcoin sector is similarly in a significant rise. Our strategy of continuous layout last night also encountered multiple stop losses and exited; if wrong, one must acknowledge it, and we can reclaim the space later. The market has been retreating since peaking at around 4683 in the early session, but the pullback is not strong. The primary focus is on the multiple dips to the 4560 line in the early morning; if this level breaks, the market will further decline. However, if it forms support, it will continue to challenge higher points.
In terms of altcoins, today has seen a mixed rise and fall, without anything particularly special. However, the four-hour closing is approaching, and Bitcoin is facing pressure near the short-term high point of 122500, pulling back. Although ETH has closed with a bearish candle in the four-hour chart, it has not broken the previous four-hour low. There are still variables in the market, and we will continue to monitor whether the high point can be broken through.
Trading advice for Bitcoin around 121500 to 122000, target near 119000; for ETH around 4720 to 4740, short-term target near 4560, if it breaks 4560, watch for 4450 level. #ETH突破$4700#