8.20 Bitcoin Ethereum Morning Market Analysis and Trading Suggestions
Morning Analysis: From the 4-hour chart, the price of Bitcoin is descending in a step-like rhythm, completely breaking all channels of the upward trend. The MACD golden cross pattern is continuously moving downwards, and the death cross that appears during this period further reinforces the correction trend, indicating that the bearish forces are continuously accumulating, and the depth of the trend is also deepening. Overall, the pattern dominated by bears is expected to continue in the short term.
Ethereum presents a bearish stance at the moment it broke the critical line at 4160, with insufficient upward momentum. The MACD indicator remains below the zero axis, and although the green bars have not significantly expanded, the dual lines continue to extend downwards, showing that the bearish forces are still dominating the market;
The current price is below the EMA24/52 moving averages, and the EMA24 crossing below the EMA52 forms a death cross, with clear bearish signals in the medium to long term. At the same time, although the KDJ shows a death cross, the J value is extremely oversold, increasing the probability of a short-term rebound.
Trading Suggestions: Sell Bitcoin around 114600-114300 on the rebound, with a stop loss at 115300, targeting around 112900-112600. If it breaks, look for around 112000-111700, if it doesn't break, consider buying.
Ethereum Trading Suggestions: Sell around 4200-4230 on the rebound, with a stop loss at 4280, targeting around 4100-4130. If it breaks, look for around 4060-4000, if it doesn't break, consider buying. #币安HODLer空投PLUME
Morning Analysis: From the 4-hour chart, the price of Bitcoin is descending in a step-like rhythm, completely breaking all channels of the upward trend. The MACD golden cross pattern is continuously moving downwards, and the death cross that appears during this period further reinforces the correction trend, indicating that the bearish forces are continuously accumulating, and the depth of the trend is also deepening. Overall, the pattern dominated by bears is expected to continue in the short term.
Ethereum presents a bearish stance at the moment it broke the critical line at 4160, with insufficient upward momentum. The MACD indicator remains below the zero axis, and although the green bars have not significantly expanded, the dual lines continue to extend downwards, showing that the bearish forces are still dominating the market;
The current price is below the EMA24/52 moving averages, and the EMA24 crossing below the EMA52 forms a death cross, with clear bearish signals in the medium to long term. At the same time, although the KDJ shows a death cross, the J value is extremely oversold, increasing the probability of a short-term rebound.
Trading Suggestions: Sell Bitcoin around 114600-114300 on the rebound, with a stop loss at 115300, targeting around 112900-112600. If it breaks, look for around 112000-111700, if it doesn't break, consider buying.
Ethereum Trading Suggestions: Sell around 4200-4230 on the rebound, with a stop loss at 4280, targeting around 4100-4130. If it breaks, look for around 4060-4000, if it doesn't break, consider buying. #币安HODLer空投PLUME