August 28th Midday Bitcoin and Ethereum Trading Suggestions
Bitcoin Analysis
According to the latest market data, Bitcoin is currently at a critical technical position, with weak bullish rebound momentum, and bears still dominate the market.
Current Technical Status
Price Level: Bitcoin has shown a weak trend after failing to effectively break through the resistance level of $113,500, currently oscillating below $111,500.
Key Technical Levels:
Resistance Levels: $113,000, $112,000
Support Levels: $110,500, $109,200-$108,500
Technical Indicators: The MACD on the hourly chart is still in the bearish zone, but the downward momentum has slowed. The Relative Strength Index (RSI) continues to operate below the neutral line of 50, indicating that sellers still dominate the market.
Trading Suggestions
Entry Point: Around $113,000-$113,500
Target Level: $111,000-$111,250
Stop Loss Level: Suggested to be set above $114,500
Ethereum Analysis
Ethereum also shows signs of insufficient rebound momentum, and attention needs to be paid to the performance of key support levels.
Current Technical Status
Price Level: Ethereum's current price is around $4540, in a downward channel oscillation state on the 4-hour chart.
Key Technical Levels:
Resistance Levels: $4690, $4620-$4650
Support Levels: $4560-$4570, $4480-$4360
Technical Indicators: The MACD histogram shows shortening red bars in a negative value state, with the DIF and DEA converging significantly, indicating a weakening of bearish strength, but the RSI indicator is hovering in the 40-50 range, showing that the market is in a wait-and-see state.
Trading Suggestions
Entry Point: Around $4580-$4600
Target Level: $4460
Stop Loss Level: Suggested to be set above $4680
Important Reminder
Key Risk Event: This Friday, the PCE inflation data, closely monitored by the Federal Reserve, will be released, which may have a significant impact on the market. Please pay close attention to this event.
Position Management: Avoid heavy trading positions and reasonably set take-profit and stop-loss levels.
Market Sentiment: Currently, funding rates are positive, bulls are not desperate, and bears are not aggressively shorting. Historical bottoms are often accompanied by
