August 22 Afternoon Bitcoin and Ethereum Market Analysis and Trading Ideas

On the daily chart, the price has gradually rebounded from the low of 4060 on August 20 to the current 4308, forming three consecutive bullish candles, indicating a short-term rebound trend. On the hourly chart, the recent high of 4324 was unable to break through, resulting in a slight pullback, but overall it remains in a state of fluctuating upward movement.

On the hourly MACD, both DIF and DEA are running upward, and the histogram has shifted from negative to positive, indicating strong bullish momentum in the short term; however, the daily MACD is still below the zero line, with bearish forces still dominating. The hourly RSI is at 58, approaching the overbought zone, so attention should be paid to whether it maintains strength; the daily RSI is at 53, at a neutral to strong level. The hourly EMA7 has crossed above the 30-period moving average, and the price is above the EMA120, but the volume during the rebound phase has not continued to increase, showing some weakness in bullish support.

Trading Ideas:

Ethereum: Short in the range of 4350-4400, target 4250-4200

Bitcoin: Short in the range of 113800-114300, target 112500-112000