August 9th Market Analysis
BTC / ETH Market Review
BTC: The price stayed flat throughout the day, with a healthy 4-hour structure and stable volume. If volume increases, a short-term breakout to the upside is expected. Daily bearish momentum is weakening, and a golden cross on the MACD axis is approaching, indicating a new upward cycle has started on the weekly chart. Pay close attention to capital support around 113,000.
ETH: Independent market movement has started, with a breakout above 4,000 on the 4-hour chart, and daily bearish momentum fading, forming a golden cross, indicating a clear short-term bullish trend.
Altcoins: Overall slight recovery alongside mainstream currencies, with a slight pullback in the altcoin index and a cooler market sentiment. ETH ecosystem coins have benefited significantly, with PENDLE breaking out in volume, and the trend remains followable.
💡 Additional Opportunities: Binance has been active recently, with opportunities to earn Alpha points, and many chances to take advantage of.
Intraday Strategy Range
BTC
1H & 4H: Healthy structure
Daily: Returning to normal range
Support: 115,500 – 116,000
Resistance: 117,500 – 118,500
Viewpoint: Mildly bullish, can follow long if breakout occurs on increased volume, cautious of a pullback on weak volume rise.
ETH
1H & 4H: Overbought range
Daily: Overbought range
Support: 3,950 – 4,000
Resistance: 4,300 – 4,400
Viewpoint: Short-term continuation of bullish trend, watch for gradual reduction of positions at high levels.
Operational Suggestions
Mainstream Coins: Short-term slightly bullish, observe volume to support breakout actions.
Altcoins: Mainly wait-and-see, wait for BTC market share to decline + fiat buying power to resonate before entering.
Risk Control: Do not chase heavy positions at high levels, leverage ≤3 times, set stop-loss to prevent reversals.
Continue to Monitor: MEMEFI BULLA OG AIO DIO
