25/08/27 BTC short-term looks for a rebound, facing pressure at 114700, Ethereum's pullback is relatively weak.
Bitcoin fell to a low of 108666, which just happens to be the support of the bull-bear line MA120. There will be a rebound to touch the pressure points of MA20 and MA60, roughly at the position below 114700. If it cannot regain the two lines above afterwards, there is still a risk of decline. The weekly line is also close to the support of MA20, with MACD crossing under the zero axis. Therefore, this weekly support is very critical; if it breaks here, it might accelerate downward.
Ethereum's daily line shows a false breakout, but it is currently supported by the MA20 line. The pullback of Ethereum is relatively weak, but from the perspective of the public, it is better to buy on the way down with temporary support at 4300 and 4060.
The ETH/BTC exchange rate rebound is approaching the weekly MA120 and below the Fibonacci 0.382. In the short term, continuing to rebound below 0.5 will reach a significant M-head pressure that has been maintained for several years. Therefore, if Ethereum rebounds to 4500 to 4868, it is believed that it will face pressure. Reminder not to FOMO as the cost-performance ratio is not high.
Bitcoin
Bitcoin retraced to the daily MA120, which is also the support of the weekly line. Therefore, this line is very critical. The weekly line has three consecutive declines, and the MACD histogram crosses under the zero axis. The daily line has broken the support of the box at 112000, but the current price has not deviated too much.
In the short term, we continue to look for a rebound, focusing on resistance at 114700 and 117400. On the 22nd, when Powell spoke and prices surged, I also reminded that if the price does not stand above 118600, the risk of decline cannot be eliminated. Therefore, the focus next is on the support of the MA120 line. At the same time, pay attention to the strength of the rebound; the price must at least recover to 117400 or even 118600 to be considered safe.
Support: 98000 to 100000 to 105000
Resistance: 114700 to 117400 to 186000
Ethereum
The movement of Ethereum is not much different; it is still above the trend line on the daily chart, but there was a false breakout on the daily line. Next, it is not easy to operate here with Ethereum, as the overall pullback is relatively weak, but the upside space is also limited. It is still recommended to wait for a subsequent pullback to buy in batches. For the short term, continue to look for a rebound, with resistance at 4720 to 4778. If it does not make a new high, it will pull back.
Support: 4400 to 4520
Resistance: 4788 to 4956
