Crypto Circle Academician: The bearish momentum of Bitcoin on August 19 is not over yet, who will be the next target? Ethereum is hanging by a thread, will it be swallowed or rebound next? Latest market analysis and reference suggestions interpretation
Current price of Bitcoin is 116,000, and it is now 1:30 AM Beijing time. The highest point before the publication of the daily K-line was 117,550. Yesterday, it was mentioned to enter south at 118,500, so today’s market is relatively simple. Since it has already fallen below 116,000 and continues to hold, as long as it does not break 118,500 during the pullback, continue to hold. The daily level can clearly see that the bearish momentum is not yet finished. MACD is shrinking and accumulating, and the dead cross of DIF and DEA, combined with the K-line falling below the middle Bollinger band at 116,800, with the lower band still at 112,000. The four-hour K-line has shown a rebound, but the momentum is weak, and resistance is obvious. The intra-day south entry is near 117,000, with a stop loss set at 118,500. The overall trend continues to be bearish without any favorable support, focusing on shorting at high positions and supporting at low positions.
Short-term reference
For southbound 113,000 to 112,500, defense at 112,000, stop loss 500 points, target looking at 114,500 to 115,000, break point looking at 115,500 to 116,000.
For southbound 117,000 to 117,500, defense at 118,000, stop loss 500 points, target looking at 116,000 to 115,500, break point looking at 115,000.
Ethereum
Current price of Ethereum is 4,433.5, and it is now 1:30 AM Beijing time. The highest point of the daily K-line for Ethereum is 4,480. Yesterday’s thinking was to go south at 4,550, and the previous two positions at 4,750 southbound have both been hit. Let’s look at today’s high point; the daily K-line is moving down to test the Fibonacci support line at 4,065, which has not yet been reached. The bearish trading volume is increasing, and the K-line falling back from the upper Bollinger band has a high probability of retesting the middle track support at 4,055. The support of the ascending channel on the four-hour K-line is also around 4,050. The confluence point of multiple trend supports, commonly known as trend turning point, if this position does not break, bullish momentum continues; if it breaks, then a significant bearish trend follows. In the short term, the resistance point above the four-hour chart is obvious, and MACD is continuously shrinking with the Bollinger band tilting downwards. Pay attention to the middle track resistance point at 4,410. For short-term indicators, the main strategy is to short on highs and wait to decide on low buys after testing trend support.
Short-term reference
For southbound trial positions from 4,400 to 4,450, defense at 4,500, stop loss 40 points, target looking at 4,350 to 4,300, break point looking at 4,250.
For northbound trial positions from 4,200 to 4,150, defense at 4,100, stop loss 40 points, target looking at 4,300 to 4,350, break point looking at 4,400.
Suggestions are for reference only, risk is borne by oneself
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