8.10 Sunday Morning Thoughts

Recently, the weekend market has also not been so calm. Yesterday, Ethereum surged by more than 200 points, and Bitcoin was also influenced by futures, experiencing a rebound, ultimately being blocked and falling back at 118,000. It is currently oscillating around the 116,500 area.

On the hourly chart, the price of the coin surged and then fell back. After several consecutive bearish candles, it has now broken below the middle track support. The MACD double lines, after consolidation, show a death cross pattern, so we will first look at the pullback situation in the short term.

Consider shorting near 117,000, and look at the 115,500-115,000 area. If it does not continue downwards, we can consider going long.