Crypto Circle Liying: 7.30 Bitcoin short-term rebound on the brink, risks and opportunities coexist! Ethereum's 'death cross' deepens, bearish forces fully erupt!
Current Bitcoin price is 117,400. Liying observes that the overall market shows a weak fluctuation pattern. Currently, the battle between bulls and bears continues, with unclear price direction. Indicators such as MACD and RSI show the market is in a bearish dominant phase, but the downward momentum has weakened, and the narrowing Bollinger Bands indicate a low possibility of a breakout trend in the short term. In the short term, since the short-term EMA has fallen below the 30-period EMA and DIF and DEA have formed a death cross, the market is under significant downward pressure. However, the RSI is approaching the oversold area, indicating a potential short-term rebound correction demand. The current focus is on the support role of the middle and lower Bollinger Bands. If the price breaks below the support level of 114,723.16, the downside potential will further open up.
Price Forecast
Long entry at 117,000, add long at 116,500, stop at 500 points, target 119,500.
Short entry at 119,500, add short at 120,500, stop at 500 points, target 118,000.
Ethereum Analysis
Current Ethereum price is 3,760. Liying assesses that Ethereum shows a characteristic of fluctuating downward, with the market displaying some weak sentiment. Combining candlestick analysis and indicator interpretation, the following is a specific analysis and suggestion, thus Liying believes that short-term downward momentum will dominate. RSI remains below 50, indicating relatively weak market sentiment; the MACD's death cross and the continuously expanding green momentum bars further reflect bearish pressure. Combining Bollinger Bands analysis, the price has fallen below the middle band and increased volatility indicates that the market may be further testing the lower support area. The short-term EMA and medium-term EMA have begun to turn, signaling an increased risk of short-term pullback. Finally, Liying suggests maintaining caution, avoiding excessive position increases. If the price pulls back to key support levels and shows stabilization signals, light positions can be attempted for long, waiting for a rebound. If the price falls below the 3,677 area, preparations for further downward defense should be made, and it is advisable to stay in cash and observe.
Latest Price Reference
Long entry at 3,700, add at 3,650, stop at 30 points, target 3,850.
Short entry at 3,900, add at 3,950, stop at 30 points, target 3,750.
The content of this article is timely and for reference only; risks are borne by oneself $BTC