8.15 Evening Bitcoin and Ethereum Market Analysis and Trading Strategy
Four-hour Level: After experiencing a two-day rebound, the market is moving in an alternating pattern of bullish and bearish candles below the middle track of the Bollinger Bands, with all three Bollinger Bands extending parallel, and the long-short range has not significantly expanded. The MACD indicator's dual lines formed a death cross and continue to move downward, accumulating values in the negative range, indicating an overall bearish trend.
- One-hour Level: Alternating small bearish and bullish candles, the market has entered an adjustment phase of 'time for space', with prices operating near the lower track of the Bollinger Bands, and there are apparent signals of a halt in the day's upward movement.
From the current market performance, the short-term trends of Bitcoin and Ethereum show a certain bearish tendency, and trading should closely follow the strategy of shorting on rebounds.
Trading Strategy
Continue to maintain the high short strategy after the rebound in the evening:
- Bitcoin: Consider shorting near 119000, with a target towards 116500.
- Ethereum: Consider shorting near 4550, with a target towards around 4300
