Bitcoin and Ethereum Morning Analysis

The overall market showed a volatile downward trend on Thursday. Bitcoin surged to 114797 in the morning before retreating, while Ethereum followed a similar pattern, retreating after a high point of 4370. There was a brief rebound during this period, but the bullish momentum was insufficient, as each rise was followed by a pullback, with the pullback strength being greater than the rise, indicating that the bears are stronger than the bulls. Overall, this trend also provided us with multiple opportunities for both long and short positions.

From the daily chart of Bitcoin, the overall situation remains unchanged, with bears still dominating the market. After a brief rebound on Wednesday, the trend is still downward, with current support around 119000 likely to see a brief upward adjustment. Looking at the four-hour chart, there is a continuous tug-of-war between bulls and bears. After a five consecutive bearish candle pattern, the price is still in a corrective upward trend, but the strength of each rise is not significant, so we can continue to short from high positions.

Bitcoin 112500-113000 short position, target around 111000;

Ethereum 4250-4280 short position, target 4100. #名人MEME热潮 #杰克逊霍尔会议 $ETH