8.27 Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions
No one can predict the market accurately forever. Acknowledging the unknown and managing risks are essential for long-term survival. Holding a large position feels good for a moment, but liquidation can happen in an instant. As long as the green mountains remain, there is no worry about firewood. Looking back at the night market, we initially viewed it with a bearish mindset based on the charts, but later found that the bulls began to exert strength and a rebound occurred, eventually climbing to the highest point of the last few days at 112625. In our live trading, we quickly let our students enter long positions, securing over a thousand points of space before exiting, which can be considered a small gain. Currently, the bears have entered and hold the dominant advantage.
Based on the current market situation, the four-hour level shows that the market is still running below the middle track of the Bollinger Bands. Although the bulls have shown a brief willingness to resist, the overall trend is still constrained by the selling pressure of the middle track of the Bollinger Bands and the downward opening of the bands, indicating that the bearish trend remains unchanged. Combined with the moving average system displaying a bearish arrangement, the bulls' brief rebound is more likely a technical correction within the bearish trend rather than a trend reversal. From the one-hour level, after breaking through the middle track of the Bollinger Bands, the market has risen, with all indicator moving averages turning upwards. However, the upper moving averages present significant resistance. The MACD lines are gradually converging, and the RSI shows a downward turning action, suggesting that the market is likely to restart its bearish trend after facing resistance during the rebound. Therefore, in our early morning operations, we will first focus on the strength of the rebound and choose the right moment to execute short positions.
In the early morning, Bitcoin can enter short at 112000, targeting around 111000.
In the early morning, Ethereum can enter short at 4650, targeting around 4600.
