Evening Analysis on 8.16
After the previous surge, it has gradually stabilized at the key support level of 116736, with obvious signs of selling pressure ↓. From a technical perspective, the MACD's DIF line has crossed above the DEA line, forming a golden cross, and the green bars have turned into red bars, indicating that momentum is continuously accumulating. Although there is some short-term pressure from the moving averages, as long as the subsequent volume can effectively follow through, the possibility of breaking through the resistance level is quite high, and the current adjustment leans more towards a consolidation phase.
Suggestions
Bitcoin: Trade around 116700-117200, with a target towards 119300-120800
Ethereum: Trade around 4360-4320, with a target towards 4450-4520