Crypto Circle Academician: Increased Selling Pressure on Bitcoin at 8.13, Beware of a Crash! Ethereum Holds Cash and Waits, Preserve Your Chips, Survive First
Current Bitcoin Price: 120,000, it’s currently 1 AM Beijing Time. Bitcoin has gone in circles and returned to the 120,000 mark after a day. Before the report, the daily K-line reached a maximum of 120,200 and a minimum of 118,200. Two days ago, selling at 122,000 had already realized profits, and it still hasn’t chosen to go north. Waiting for the main force to pull back above 120,000 to look for resistance before heading south is the main strategy. The daily technical indicators show that the EMA trend lines are all in a bullish trend. The MACD has ended the contraction and started to expand upward. The current daily resistance level to watch is the upper Bollinger Band at 120,900. The four-hour K-line has formed an upward channel, and the technical indicators show a top divergence. After the main force stretches to 122,300, selling pressure begins. After a valid pullback to support at 118,000, it falls back. The middle Bollinger Band support watches at 118,900, and the upper band resistance watches at 121,750. Overall, the trend maintains a high-level consolidation market, focusing on high-level shorts as the main strategy, with longs as a supplement.
Short-term Reference
North to 119,000 to 118,500, protect 118,000, stop loss 500 points, target 120,000 to 120,500, if broken look at 121,000.
South to 122,000 to 122,500, protect 123,000, stop loss 500 points, target look at 121,000 to 120,000, if broken look at 119,000.
Current Ethereum Price: 4,457, it’s currently 1 AM Beijing Time. Market sentiment has been stimulated. Before the report, the daily K-line reached a maximum of 4,488 and a minimum of 4,216. The market sentiment has a significant impact, coupled with the magical nine-turn and extreme overbought conditions, it has remained high. The daily level has been repeatedly pulled up around the upper Bollinger Band at 4,380. The four-hour K-line technical indicators show that the MACD has ended the contraction, and the DIF and DEA form a death cross. The moving averages show a strong upward trend. The upper Bollinger Band support watches at 4,425. In summary, extreme overbought conditions combined with extreme top divergence suggest holding cash and waiting. At this time, preserve the chips in hand to prevent the main force from washing out both long and short positions. The volatility is too large for speculative funds to enter. If one really wants to trade, it is recommended to lightly position for a mid-to-long term short at high levels and avoid chasing rises and killing dips.
Short-term Reference
South to test positions at 4,450 to 4,500, protect 4,550, stop loss 40 points, target look at 4,400 to 4,350, if broken look at 4,300.
North to test positions at 4,200 to 4,150, protect 4,100, stop loss 40 points, target look at 4,280 to 4,360, if broken look at 4,400.
