8.9 Early Morning Analysis and Trading Suggestions

The fluctuations in the cryptocurrency market are like waves crashing against the rocks; they may seem thrilling, but they are merely the market's daily breath. Don't let the red and green of the candlestick chart dictate your emotions. What you need to do is stand on the shore and clearly see the direction of the tide, rather than jumping around with the waves. Reviewing today's market, Bitcoin seems to lack the strength to rise. In the early morning, the price dipped to a low of 115,500 before the bears halted, then it fluctuated and climbed to a daily high of 117,600. Following this, the bears exerted pressure, pulling the price down to 116,200 before rebounding to the 117,200 area, where it is currently stabilizing around 116,400. Compared to Bitcoin, Ethereum also broke through to a new daily high, reaching 4,000 after a strong rise from a low of 3,780. The current price has adjusted to around 3,980 and is stabilizing. Today, Teacher Daobao has positioned one long and one short for Bitcoin, capturing a space of 1,900 points, while for Ethereum, three shorts and one long were set, capturing a space of 240 points.

On the four-hour level, the current price is between the middle and upper bands of the Bollinger Bands, which are expanding. This indicates that the market is in a bullish trend, and the market's volatility is increasing. In the short term, the bullish force still dominates, but it is also necessary to pay attention to the possibility of price corrections touching the middle band for support. The MACD indicator shows that although the bullish momentum has weakened during the price correction, it remains at a strong level overall, suggesting that there is still upward momentum in the short term. On the hourly level, the price has fallen below the middle band and is approaching the lower band. The Bollinger Bands have shifted from expansion to convergence and are continuously narrowing, indicating that the market's volatility is tightening but is leaning towards a downward direction. The price is likely to test support along the lower band. In the early morning, we can focus on a bearish strategy.

Bitcoin: Short near 116,600, targeting 115,500.

Ethereum: Short near 3,980, targeting 3,920.