Evening Analysis and Trading Ideas for Bitcoin and Ethereum on August 11
The daily chart shows that after a significant price increase on August 9, the price has entered a high-level consolidation period, currently showing signs of a pullback. On the hourly chart, a series of small bearish candles have formed in recent hours, and the price is gradually declining, indicating a certain weakness in the short term. The MACD on the hourly chart shows that the DIF and DEA are continuing to diverge downwards, with the bearish bars increasing, indicating that bearish forces are dominant; the daily chart is still in the bullish zone, but momentum is weakening. The hourly RSI has quickly fallen from the overbought zone to around 38, indicating strong selling pressure in the short term; the daily RSI remains between 50-60, and the trend has not been completely broken. The hourly price has fallen below both the EMA7 and EMA30 moving averages, with the EMA7 turning downwards, indicating a bearish bias in the short term; the daily price is still above the EMA7, with effective support in the medium to long term. Continue to maintain a pullback buying strategy for the evening.
Ethereum: Buy at 4150-4100, Target: 4250-4300
Bitcoin: Buy near 119800, Target 121500-122500
