8.6 Zhiming Afternoon Analysis and Suggestions
The morning market showed a clear one-sided decline. The Bitcoin price peaked at around 114200 before facing downward pressure, continuing to decline under the dominance of bears, and found support at around 113400. Ethereum's movement was synchronized, peaking at 3623 in the morning before retracing to 3562, and then rebounding for correction, now reported around 3584.
Returning to the current market situation, the 4-hour level shows that after experiencing a previous decline, the price has entered a range-bound fluctuation. The price is oscillating around the middle track and is currently below it, with a short-term trend leaning towards a downward fluctuation. The price had attempted to break through the middle track but was quickly suppressed by bears, indicating that the middle track is a strong resistance level. If it breaks 114000, it can be seen as a short-term bullish signal. From the one-hour K-line pattern, after a certain degree of decline, some small real body K-lines appeared, suggesting that there is a certain contest between bulls and bears near the current price level. The MACD histogram is below the zero axis but has shortened. This indicates that the bearish strength is gradually weakening, and there is some rebound momentum in the market, but a clear bullish dominant situation has not yet formed. In the future, we can focus on high shorts.
Zhiming Suggestions
Bitcoin: Watch around 113700-114200, look at 113000-112500
Ethereum: Watch around 3590-3620, look at 3550-3530
