Crypto Market Analysis: Bitcoin and Ethereum Rise Together at 8.1, Grasp the Wealth Code of August! Latest Market Analysis and Reference Suggestions
Current price of Bitcoin: 118,700. The analysis indicates that Bitcoin is currently in a weak consolidation phase. The price is slowly rising based on moving averages, but market momentum is weak, and the direction for a breakout in the short term remains unclear. Indicator analysis shows that the market is in a supply-demand equilibrium phase, with upward momentum gradually weakening, but the long-term trend still leans towards strength. Therefore, in the short term, the market may continue to maintain a volatile pattern. In addition, the EMA indicator shows that the forces of bulls and bears are intertwined quite intensely, making it difficult for the price trend to form a clear breakout. Lastly, it is advised to adopt a wait-and-see strategy in the short term, focusing on the breakout situation of key levels 114,700 and 120,900. If the price effectively breaks above the previous high, light positions can be taken to follow the trend; if the price falls below the recent low, caution should be exercised regarding the risk of a pullback. High selling and low buying operations can be considered within the volatile range.
Price Prediction
Long at 116,000, add at 115,000, stop at 500 points, target at 119,000
Short at 119,000, add at 120,000, stop at 500 points, target at 117,500
Ethereum
Current price of Ethereum: 3,800. The analysis indicates that the current market is in a volatile upward trend, oscillating around the 3,800 point area. The price fluctuates near the short-term and medium-term moving averages, receiving support from long-term moving averages. Key levels in the market are operating within a volatile range, with neither bulls nor bears showing significant advantage. Therefore, in the short term, the price may continue to operate within this volatile range. Currently, the K-line pattern shows conflicting signals, including doji and rounded bottom patterns indicating rebound signals, but the bearish three soldiers may indicate that short-term pressure still exists, and there may be a possibility of a downward test for support. Lastly, it is advised that at this stage, with no clear trend for bulls or bears, it is appropriate to adopt a light position and wait-and-see strategy. However, at key support levels, attempts to accumulate positions with low buying can be made while closely monitoring the performance of resistance zones. If the price breaks above resistance, positions can be added; but if support is lost, decisive stop-loss action is necessary to avoid further downside risk.
Price Reference
Long at 3,700, add at 3,650, stop at 30 points, target at 3,850
Short at 3,900, add at 3,950, stop at 30 points, target at 3,750
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