8.14 Midnight Bitcoin and Ethereum Market Analysis
Bitcoin Today's Trend: After a strong rally from the low of 120105 to the high of 122197, it encountered resistance and fell back, reaching a low of 120333 during the midnight period; Ethereum performed in sync, rising to a high of 4735 in the afternoon before facing pressure, then dropping to a low of 4615 at midnight.
From the one-hour perspective, although both assets quickly retraced below the upper Bollinger Band after a strong upward move, the retracement strength is significantly weaker than the rebound strength. Current prices are steadily recovering, and the MACD indicator's dual lines also maintain an upward extension trend.
Therefore, the operational strategy at midnight remains focused on low buy on retracements:
Bitcoin suggestion: You can set up long positions in the range of 119000-120500, targeting 122600-123500.
Ethereum suggestion: You can set up long positions in the range of 4630-4660, targeting 4760-4850, with a breakout target of 5000.