Xu Xu Baby talks about coins: August 9th Cryptocurrency Market Analysis: Bitcoin and Ethereum Trend Interpretation

Dear friends, it's time to analyze the cryptocurrency market again. Today we will focus on Bitcoin (Big Cake) and Ethereum (Ether).

Bitcoin Trend Analysis

Recently, Bitcoin has been fluctuating in the range of 116500 - 118000. From a technical perspective, the MA moving averages are in a bullish arrangement and a golden cross has occurred, releasing short-term bullish signals, indicating that there is upward momentum in the short term. However, the current trading volume has significantly decreased, forming a divergence between volume and price, while the RSI indicator is in an overbought state. This suggests that if Bitcoin is to rise further, there will be considerable resistance. If it cannot break through the strong resistance level of 118000, it is likely to fall back to the support area of 116500.

Operational suggestion: Adopt a high sell, low buy strategy. If the price approaches 117500, consider shorting with light positions, setting a stop loss at 118300; for long positions, you can add to your position in batches at 116000 and 115500, with a stop loss of 500 points, targeting 117500.

Ethereum Trend Analysis

Ethereum has now broken through the 4000 threshold, which is significant. Previously, although the moving averages were in a bullish arrangement and the engulfing pattern constituted a strong bullish resonance, suggesting an upward price trend, the trading volume had drastically decreased, casting doubt on the reliability of the upward trend. Additionally, the BOLL indicator's opening has widened, the price is near the upper band, and the RSI indicator is overbought, all increasing the likelihood of a pullback.

However, after successfully breaking through 4000, bulls currently hold the advantage in the short term. Attention should be paid to the resistance situation in the 4080 - 4100 area; if it can break through smoothly, it is expected to push towards 4200. But if it encounters resistance in this area and falls back, the 3950 - 3980 range will become a key support zone. If it breaks below this, it may trigger further pullbacks.

Operational suggestion: If the price rises to around 4080 and encounters resistance, consider light shorting, with a stop loss set at 4120, targeting 3980; if the price pulls back and stabilizes in the 3950 - 3980 range, consider going long, setting a stop loss at 3920, initially targeting 4050, and after breaking through, further targeting 4150.

In conclusion, the current cryptocurrency market is highly volatile and filled with uncertainty. Everyone must closely monitor market dynamics, manage risks properly, operate cautiously, and protect their assets. #eth突破4000 #BTC #BTC走势分析 #ETH #ETH走势分析