BTC, ETH Trend Analysis and Opening Strategy on August 24

BTC

1. Trend Analysis:

Previously, a large bullish candle surged from around 111,600 to 117,300, with significant volume, indicating the entry of main capital.

However, it quickly pulled back from the highs and is currently consolidating around 115,000.

MA7 is turning down, MA25 is providing support below, and MA99 is exerting pressure above.

Although MACD is still in the bullish zone, the histogram is starting to shorten, indicating a weakening momentum.

2. Strategy:

Bullish: If the price does not fall below the range of 114,500-114,000, consider buying on dips, aiming for a rebound to 117,000-117,500-120,000 and previous highs.

Bearish: If the rebound meets resistance around 117,000 and cannot break through, consider shorting with a target of 113,500-114,000.

Stop-loss level: Long below 114,000, Short above 117,800.

ETH

1. Trend Analysis:

The trend is stronger than BTC; previously surged from 4,060 to 4,888 in one go. Although it has retraced, it is still holding around 4,780, consolidating strongly.

MA7, MA25, and MA99 are all in bullish alignment, and MACD remains in a strong zone.

This indicates that ETH's trend is stronger than BTC, with bulls in control.

2. Strategy:

Bullish: As long as it does not fall below the 4,700 support, you can gradually accumulate long positions, targeting 4,900-5,000-5,125, with a stop-loss below 4,680.

It is not recommended to short too early unless BTC clearly breaks down and drags ETH down with it.

Suggestion:

Bitcoin is currently resting after a surge, making it prone to up and down fluctuations, suitable for short-term trading.

Ethereum is stronger, with a bullish trend, suitable for buying on the dips; do not short against the trend easily.

If trading:

To be more conservative, you can buy on dips in the BTC range of 114,500-114,000, with a tighter stop-loss.

If more aggressive, you can enter long in the ETH range of 4,700-4,750, targeting the breakout towards 4,900-5,125.

Many old coins and Ethereum-related assets show signs of a rally. If you have a coin for a new altcoin, please leave a message with your coin type, and I can help draw support and resistance levels and entry and exit points for AAVE, DOT, AVAX, ATOM, ARB, OP.

#ETH创历史新高 If it breaks 5,000, will major altcoins come?