Cryptocurrency Market Analysis: Is the 'Bullish Myth' of 7.4 Bitcoin on the Verge of Collapse? Is an 'Ethereum Correction' Inevitable? Latest Market Analysis Reference
Latest Bitcoin Market Analysis
Current Bitcoin price is 109,300. The analysis shows that the current price is fluctuating near the moving average, with intense competition between bulls and bears. Overall performance is relatively strong but signs of weakening momentum are evident. Therefore, in the short term, the market may maintain high-level volatility, accompanied by a certain degree of correction demand. Reasons include the weakening of the MACD histogram, declining bullish momentum, and the RSI indicator being in a neutral to strong area without entering overbought territory. The market tends to solidify at high levels, and the appearance of a doji candlestick indicates increased short-term uncertainty. Lastly, it is advised to operate with light positions to avoid chasing highs, and to attempt to build positions near support levels around 105,885.0 or near the middle band. Bullish stop-loss levels can be set below the lower Bollinger band support. If the price breaks below the middle Bollinger band or key support levels, one should quickly stop losses to prevent further losses.
Today's Point Reference:
Long Entry Point: 108,500, Stop Loss: 107,500, Stop Loss: 500 points, Target: 110,500
Short Entry Point: 111,500, Stop Loss: 112,000, Stop Loss: 500 points, Target: 108,500
Latest Ethereum Market Analysis
As of the time of writing, the current price of Ethereum is 2,575. The analysis indicates that the upward momentum has slowed down, and some technical indicators show a decline in market momentum. Therefore, in the short term, the price is close to resistance levels, and there are signs of weakening short-term momentum. At the same time, the MACD histogram is weakening, and the RSI is adjusting after touching overbought territory, which may present correction pressure. However, strong support levels indicate limited downside potential, and the market may focus on oscillatory adjustments. Lastly, it is suggested to combine technical indicators and increase positions on dips near support levels while paying attention to dynamically adjusting positions to guard against the risk of prices breaking below bullish support areas. Close attention should be paid to subsequent price changes and indicator validation reversal signals. If the price effectively breaks through resistance levels, one might consider following the trend and shifting to a short-term bullish strategy.
Short-term Strategy Reference:
Long Entry Point: 2,520, Stop Loss: 2,470, Stop Loss: 30 points, Target: 2,650
Short Entry Point: 2,650, Stop Loss: 2,700, Stop Loss: 30 points, Target: 2,550
The above is a brief analysis by the market analyst for the current market situation, for investors' reference