8.26 Zhiming Afternoon Analysis and Suggestions
Bitcoin currently shows consecutive days of bearish candles on the daily chart, with the price quickly dropping from
116,935.99 to 109,789.96, indicating a clear downward trend. In the 4-hour cycle, after a significant fluctuation, there is a slight consolidation. The current candlestick has a small body, indicating that market sentiment is becoming cautious. The MACD in the 4-hour cycle shows both DIF and DEA below the zero axis and continuing to diverge downwards, with bearish forces dominating. However, the green bars are shortening, showing signs of weakening. The price is operating below the EMA7, EMA30, and EMA120 moving averages, and these moving averages are in a bearish arrangement. The trends are bearish in the short, medium, and long term. It is recommended to sell high today.
Bitcoin near 110,500-111,000, watch 109,500-109,000
Ethereum near 4,460-4,500, watch 4,380-4,340
