8.18 Evening Bitcoin and Ethereum Analysis
After the afternoon dip to around 114500, Bitcoin entered a narrow consolidation phase, currently oscillating around 115000. If this position stabilizes, there is hope to restart the upward test, targeting the 116000-117500 area. Short-term bearish momentum has weakened, with a volume divergence on the hourly level and KDJ likely forming a golden cross, suggesting that the pullback is nearing its end, making a rebound worth looking forward to.
As for Ethereum, after a pullback to around 4230 at noon, it rebounded to 4275, still maintaining a staircase-like downward oscillation pattern. However, the overall downward pressure is gradually easing, and if it can hold key support, there is hope for a secondary accumulation.
Trading Suggestions:
Bitcoin: Buy on dips in the 114500-113800 range, targeting 116000-117500. The key position above is 118000; a breakout there could lead to further highs, otherwise continue to short.
Ethereum: If it can hold the 4250-4210 range, the rebound target could be 4340-4385. If it returns above 4500, a breakout could point towards 4700-4800.
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