Cryptocurrency Academician: Is the 8.9 Bitcoin "breakthrough" blocked a correction or a prelude to a surge? Is there a hidden crisis behind Ethereum's surge?
The current price of Bitcoin is 116,000. It is now 1 AM Beijing time. Bitcoin has broken through its previous high with a significant trading volume. After being blocked around 117,600 on the 4-hour K-line, it has continuously retreated and is currently in a consolidation phase, with the lows gradually rising. Yesterday's strategy aimed south at 116,500, with a defense at 117,300, but fortunately, it did not get stopped out. The current average price is 116,900 for reference. On the technical side, the MACD shows a weakening downward momentum; however, the daily level is still in a golden cross state, indicating that the bullish trend has not completely ended, and there is still upward momentum, so it is essential to defend well and set stop-losses. The EMA trend indicator is contracting, and the main force is clearly unloading after the stretch, so if going south is effective, it can be held.
Short-term reference:
For going north, try positions between 115,000 and 114,500, with a defense at 114,000, a stop-loss of 500 points, and a target of 115,500 to 116,000; if broken, look at 117,000 to 117,500.
For going south, try positions between 116,900 and 117,300, with a defense at 117,700, a stop-loss of 500 points, and a target of 116,300 to 115,800; if broken, look at 115,400 to 115,000.
Ethereum
The current price of Ethereum is 397. It is now 1 AM Beijing time. The stop-loss at 3,900 for going south at 3,940 was unfortunately hit. Looking at the current market, the daily level shows continuous increases, forming a bullish trend. The 4-hour cycle is consolidating around 3,950. The previous high of 4,012 may become a short-term resistance, while the low of 3,880 provides support. The MACD has formed a top divergence trend, indicating that there is still momentum for further highs, so it is temporarily not the best time to go south; just wait for signals to appear and don't hesitate. As for going north, the pullback has not reached a good support point, and one can only wait for the bullish momentum to exhaust. The turnover rate of the main force in the market is too frequent; at this time, it is best for retail investors to wait until the stretch ends before taking action. Do not chase the rise or kill the fall; just focus on surviving.
Short-term reference:
For going south, try positions between 4,000 and 4,040, with a defense at 4,070, a stop-loss of 40 points, and a target of 3,950 to 3,900; if broken, look at 3,850.
For going north, try positions between 3,900 and 3,870, with a defense at 3,830, a stop-loss of 40 points, and a target of 3,950 to 4,000; if broken, look at 4,050.
This advice is for reference only, risks are to be borne by oneself. $BTC
