Crypto Circle Academician: Ethereum begins to capture Bitcoin's market share on August 25, with long and short imbalances under sector rotation
Current Bitcoin price is 114,300, it is now 1:30 AM Beijing time, the daily K-line highest is 115,666, there are still a few hours until the daily line closes at 8 AM, the weekly line closes similarly. Now the large-scale trend has turned back, reaching the key support area, which is currently the price when this article is published. It is highly likely that the direction will be chosen again around the 0.786 line during the day. The bulls are blocked by the middle band resistance level at 116,700. The four-hour K-line has already broken the trend indicator MACD, ending the expansion and beginning to contract. Whether the DIF and DEA will form a death cross at the 0 axis is all at this line, especially since the four-hour K-line has been consolidating around the middle band at 114,550. Following yesterday's thought process, after the middle band support becomes resistance, a signal appears to head south, targeting last week's low of 111,700, which is near the double bottom structure around 112,000.
Short-term reference
If the lower range of 115,000 to 114,500 is lost, head south, stop loss of 500 points, target looking at 114,000 to 113,500, breaking down to look at 113,000
If the lower range of 112,000 to 111,500 acts as resistance, head north, stop loss of 500 points, target looking at 113,000 to 113,500, breaking up to look at 114,000
Current Ethereum price is 4,860, it is now 1:30 AM Beijing time, the highest point of the daily K-line is 4,877. Yesterday's content emphasized that after the main force divergence, there is a high probability of a stretch followed by a pullback. Don't rush; the market is getting closer according to the trend. Be patient and wait. The daily K-line has been testing above 4,800 for several days; pressure levels that have been attacked for a long time are bound to break. The top divergence in the four-hour K-line is very obvious, and the K-line is near the historical high. The market shows that the main force is significantly increasing positions, with large whales selling Bitcoin to buy Ethereum. The upper band resistance level of the Bollinger band has reached 5,080, and the middle band support is at 4,610. Strong bullish trends continue. Interested crypto friends may consider trying to go south above the 5,000 mark. Conservative crypto friends are advised to preserve their holdings and survive first. Currently, the main force has high control. At this time, the market is unrelated to speculative funds, and after the wind passes, a stable market will be the most stable.
Short-term reference
Try to go south at 5,000 to 5,050, stop loss of 40 points, target looking at 4,950 to 4,900, breaking down to look at 4,850
Try to go north at 4,650 to 4,600, stop loss of 40 points, target looking at 4,700 to 4,750, breaking up to look at 4,800