ETH, BTC Trend Analysis and Opening Strategy on August 29

ETH

Current Price: ETH price is approximately 4470

Short-term Moving Averages (MA5, MA10, MA25): Short-term moving averages show a downward trend, especially MA5 has already fallen below MA10, which may indicate that there is still room for price correction in the short term.

MACD Indicator: The DIF and DEA values are negative, and the MACD is also negative, indicating that market sentiment is bearish.

Trading Volume: Trading volume is relatively stable, but there has not been a significant increase in volume, indicating that there is no large-scale influx or outflow of funds in the market.

Open Position: Waiting for further confirmation signals near the current price. If the price further breaks below the support level of 4425, I am prepared to take a short position.

If $ETH rebounds and breaks through 4550, short-term bullish signals will strengthen. At that time, it must follow the bullish trend towards 4660-4700-4825.

BTC

Current Price: BTC price is approximately 111526

Short-term Moving Averages: Similar to ETH, short-term moving averages show a downward trend, with prices being suppressed by these moving averages.

MACD Indicator: The DIF and DEA values are also negative, and the MACD shows a bearish pattern, indicating that there may still be further downside potential in the market.

Trading Volume: Although trading volume has increased, it has not formed a strong buying signal.

Considering the current downward trend, if the price of $BTC drops below the support level of 111350, and the rebound is weak, it is advisable to enter a short position.

If BTC breaks through 112500 and the trading volume increases, then follow the bullish trend to take a chance on tonight's inflation benefits.