8.26 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

The cryptocurrency contract market is the wild west of digital gold and the ultimate testing ground for human nature. There is no eternal bull market, nor is there a destined bear market; only those with a will as strong as rock can traverse the bull and bear cycles. Looking back at the early market, Bitcoin rebounded from a high of 112800 to a low of 108666. We set up a short position in the early hours, capturing over 3000 points of space, and then established another short position in the morning, gaining over 1000 points. Ethereum's movement mirrored Bitcoin's, dropping from its high to a low of 4311. However, as the bearish momentum weakened, bulls began to exert force, leading to a rebound. Currently, it is stabilizing and oscillating around 110000.

According to the current market conditions, the four-hour level shows that the market is still maintaining a step-down pattern. The price is closely following the lower Bollinger Band, and the bearish trend is like a surging undercurrent, clear and strong. The market has once again broken through recent lows. Under the strong offensive of the bears, the bulls have not been able to show any rebound actions. From the one-hour level, after a two consecutive bullish candle rebound, it faced downward pressure again. There are upper shadows left on the bullish candles, indicating that selling pressure above still exists. The MACD has also reached negative territory, which suggests that the bearish push is not yet over, and the rebound is merely a setup for a fall, so in the afternoon trading, we will continue to hold a bearish outlook.

In the afternoon, Bitcoin can be shorted at 110500, targeting around 108500.

In the afternoon, Ethereum can be shorted at 4450, targeting around 4380. #比特币 $BTC