8.6 Morning Market Analysis 🔥🔥:
Looking at Bitcoin from the 4-hour chart, after dropping to 111800 on August 3, it rebounded and faced resistance at 115800, showing a downward fluctuation and attempting to stabilize in a W shape. Currently, it is in a phase of consolidation with a battle between bulls and bears, with downward momentum weakening but insufficient signals for an upward breakout. The 1-hour price has broken through the midline upward, indicating that short-term bullish forces are dominant, pushing the price to rebound. The MACD has formed a golden cross, and the green bars are quickly converging to turn red, indicating a significant decrease in downward momentum, with strong signals for a short-term bullish counterattack.
Ethereum has retreated from the high point of 3735, breaking through the middle line of the Bollinger Bands and continuing to decline, currently approaching the lower line and entering the oversold area. This is also the previous rebound's retracement position at 3550 support, which has been tested several times last night without breaking through, indicating a short-term technical rebound demand. The 4-hour Bollinger Bands are in a contracting state, with the price fluctuating between the middle and upper lines, showing that it's difficult to determine the direction between bulls and bears.
Operational Suggestions: Buy on a pullback near 113400-113100, with a stop loss at 112600 and a target around 114200-114600. If broken, look at around 115200; if not broken, consider shorting.
Ethereum Operational Suggestions: Short near 3605-3595 on a rebound, with a stop loss at 3630 and a target around 3560-3550. If broken, look at around 3520-3510; if not broken, consider buying.
