Bitcoin (BTC) Technical Analysis:
The early morning rebound was blocked at the low point of the weekend's consolidation range before retreating, indicating significant selling pressure in that area. The daily level has effectively broken below the weekend's low point, continuing the downtrend. Key indicators show: the 7-day moving average is turning downward and may soon form a death cross, with volume shrinking during the rebound and increasing during declines. MACD shows a death cross downward, and the negative histogram is starting to expand. The fast and slow lines are still above the zero axis, with the medium- and long-term trend remaining bullish.
Short-term trends are clearly bearish, with key support at $112,000; if lost, it may further dive into the $105,000-$107,000 range.
The 4-hour level shows effective resistance at $116,500; currently, the focus is on the support level at $113,000.
Ethereum (ETH) Technical Analysis:
Perfectly verified yesterday's resistance level of $4,360-$4,400, peaking at $4,388 before retreating in the early morning.
Daily level: The downtrend is obvious, having broken below the 14-day moving average. Key support to watch is the $4,150 platform, followed by the $4,000 round number. Since mid-August, it has shown a pattern of 'increased volume drop, decreased volume rebound.' MACD shows a death cross, and the histogram has entered negative territory.
4-hour level: forming a descending channel, with highs moving down sequentially (4780→4680→4580→4380). Key resistance to watch above is $4,280; it is recommended to set short positions on high.
Trading Suggestion: BTC: Continue holding short positions near $116,500, targeting the $113,000-$112,000 range.
ETH: Continue holding short positions at $4,380, targeting the $4,150-$4,000 range; consider adding positions on a rebound to $4,280 during the day.
Altcoins:
Current altcoins are still in a correction phase overall, but the downside space is expected to be limited, and there are still opportunities for rebounds in the future; patience is needed to wait for the right entry timing.
Mainstream coins are undergoing a phase of adjustment but have not entered a bear market.
Mainstream coins (BTC, ETH, etc.) have experienced significant increases and are currently in an adjustment phase, but the likelihood of a direct transition to a bear market is low.
Historical patterns show that the end of a bull market is often accompanied by a high-level consolidation and distribution phase, lasting 1-3 months.
If the market enters a high-level sideways consolidation, funds may rotate into altcoins, driving a rebound.
Expectations for a rate cut in September still exist and may act as a catalyst for market movements.
The probability of a rate cut by the Federal Reserve in September is relatively high; if the policy is implemented, the current adjustment of mainstream coins may just be a consolidation phase in preparation for subsequent new highs.
Once market sentiment warms up, funds may flow back into the crypto market, driving altcoin surges.
Trading Strategy:
Patiently wait for signals indicating the end of the adjustment, avoiding blind bottom-fishing.
Pay attention to signs of stabilization in mainstream coins; if BTC/ETH stops falling and rebounds, altcoins may welcome rotational opportunities.
Select strong altcoins, gradually invest after confirming trends to reduce risk and amplify returns.
The current market remains predominantly cautious, waiting for mainstream coins to adjust before strategically investing in altcoins to seize the next round of market opportunities!
Ethereum (ETH) Technical Analysis:
Perfectly verified yesterday's resistance level of $4,360-$4,400, peaking at $4,388 before retreating in the early morning.
Daily level: The downtrend is obvious, having broken below the 14-day moving average. Key support to watch is the $4,150 platform, followed by the $4,000 round number. Since mid-August, it has shown a pattern of 'increased volume drop, decreased volume rebound.' MACD shows a death cross, and the histogram has entered negative territory.
4-hour level: forming a descending channel, with highs moving down sequentially (4780→4680→4580→4380). Key resistance to watch above is $4,280; it is recommended to set short positions on high.
Trading Suggestion: BTC: Continue holding short positions near $116,500, targeting the $113,000-$112,000 range.
ETH: Continue holding short positions at $4,380, targeting the $4,150-$4,000 range; consider adding positions on a rebound to $4,280 during the day.
Altcoins:
Current altcoins are still in a correction phase overall, but the downside space is expected to be limited, and there are still opportunities for rebounds in the future; patience is needed to wait for the right entry timing.
Mainstream coins are undergoing a phase of adjustment but have not entered a bear market.
Mainstream coins (BTC, ETH, etc.) have experienced significant increases and are currently in an adjustment phase, but the likelihood of a direct transition to a bear market is low.
Historical patterns show that the end of a bull market is often accompanied by a high-level consolidation and distribution phase, lasting 1-3 months.
If the market enters a high-level sideways consolidation, funds may rotate into altcoins, driving a rebound.
Expectations for a rate cut in September still exist and may act as a catalyst for market movements.
The probability of a rate cut by the Federal Reserve in September is relatively high; if the policy is implemented, the current adjustment of mainstream coins may just be a consolidation phase in preparation for subsequent new highs.
Once market sentiment warms up, funds may flow back into the crypto market, driving altcoin surges.
Trading Strategy:
Patiently wait for signals indicating the end of the adjustment, avoiding blind bottom-fishing.
Pay attention to signs of stabilization in mainstream coins; if BTC/ETH stops falling and rebounds, altcoins may welcome rotational opportunities.
Select strong altcoins, gradually invest after confirming trends to reduce risk and amplify returns.
The current market remains predominantly cautious, waiting for mainstream coins to adjust before strategically investing in altcoins to seize the next round of market opportunities!
