Cryptocurrency Market Analysis: 8.4 Bitcoin Short-Term Correction, Bull-Bear Tug of War Imminent! Ethereum Rally Limited, Is It a Fueling Up or Just a Flash in the Pan?
Current Bitcoin price is 114000, the analyst assesses that after the recent drop, Bitcoin has stabilized in a fluctuation pattern, with some support around 112000, but there is still no clear rebound signal. The market is at a turning point, so in the short term, the analyst sees some rebound momentum, and bullish forces are beginning to accumulate, but the downtrend has not been reversed. The short-term direction leans towards a fluctuating correction, and the strength of the rebound still needs to be observed to see if it can break through key resistance levels at 114500 and the EMA30 constraints. Finally, the analyst suggests trying to accumulate near the support level of 112000 with light positions, with a short-term target ranging from 114500 to 116000, but it's essential to set a stop-loss below 111900 and to cautiously face volatility risks. Overall, the analyst assesses that the market is currently in a weak stage of fluctuating correction, with operations needing strict position control, always monitoring indicator dynamics and key breakout situations.
Point Forecast
Long Entry Point 112000, Add Long at 111500, Stop 500 points, Target 115500
Short Entry Point 115500, Add Short at 116000, Stop 500 points, Target 113000
Ethereum
Current Ethereum price is 3475, the analyst assesses that the current trend for Ethereum is downward, with certain support around the price level of 3350. The EMA moving averages are in a bearish arrangement, and short-term rebound forces are beginning to appear but still struggle to reverse the overall downtrend. Thus, the analyst believes that the market is currently in a short-term rebound process, with the MACD showing a short-term golden cross and expanding red histogram indicating accumulation of bullish momentum. However, the lower Bollinger Band remains suppressive, and the RSI has rapidly increased and then retreated, indicating that a quick rebound may face some adjustment pressure. Therefore, a short-term fluctuating rebound may occur, but the upside space is limited, with rebound target levels expected to be between 3500-3600. One should be cautious of potential adjustment pressure after encountering resistance. Finally, the analyst suggests paying attention to the 3500 to 3600 area; if the price breaks through and stabilizes above this resistance area, consider lightly adding long positions, targeting around 3800, with a stop-loss set below 3450. If the price encounters resistance and falls back in the 3500-3600 range, one could short intraday, targeting around 3350.
Point Reference
Long Entry Point 3350, Add at 3300, Stop 30 points, Target 3500
Short Entry Point 3550, Add at 3600, Stop 30 points, Target 3400