Crypto Circle Scholar: 8.12 Bitcoin "Raising and Selling" Signal! Is the Historical High a "Ghost Gate"? Is Ethereum the "Dawn" or the "Dusk"?
The current price of Bitcoin is 120,000, and it is now 1 AM Beijing time. Bitcoin has once again approached the historical high, and 122,000 can be used to try a position southbound. Currently, it is hitting the upper Bollinger Band at 121,000 and pulling back, indicating significant resistance above. The main force has shown a clear sign of raising and selling on the order book, and another stretch can only happen unless there is major good news. The four-hour fast line has shown a miraculous nine-turn market, with four consecutive downward candles breaking the short-term support at 120,000. It has been hovering around 120,000, with MACD continuously showing a top divergence and volume decreasing. DIF and DEA are beginning to contract, and the short-term market is starting to pull back, leaning towards bearish in the short term. It is not recommended to chase high prices as the market shows clear weakness, and the risk of chasing high exceeds returns.
Short-term reference:
Southbound trial positions 117,000 to 116,500, with a stop loss at 116,000, 500 points stop loss, target looking at 118,000 to 118,500, breaking point looking at 119,000 to 119,500.
Northbound trial positions 122,000 to 122,500, with a stop loss at 123,000, 500 points stop loss, target looking at 121,000 to 120,000, breaking point looking at 119,000 to 118,000.
Ethereum
The current price of Ethereum is 4,330, and it is now 1 AM Beijing time. The order book has been stretching continuously, with bulls consistently diverging. The main funds show active inflow, along with continuous stretching breaking records. Before publication, Ethereum has already reached around 4,400, not far from the historical high of 4,878. The daily trend indicators remain bullish, with noticeable increases in volume and holdings. MACD is in a strong upward phase, and the upper Bollinger Band resistance at 4,285 has been lost. The bullish trend continues, with the four-hour K-line quickly pulling back to support at 4,160 and then stretching upwards. The bulls dominate the market, with the Bollinger Band narrowing at a high level, and the upper resistance has reached 4,400. After breaking 4,400, friends who like short-term trading can arrange short positions at the high, entering and exiting quickly. A short bullish attempt can be made near the support of 4,160, with proper stop loss and risk control.
Short-term reference:
Southbound trial positions 4,400 to 4,450, with a stop loss at 4,500, 40 points stop loss, target looking at 4,300 to 4,250, breaking point looking at 4,200 to 4,150.
Northbound trial positions 4,200 to 4,150, with a stop loss at 4,100, 40 points stop loss, target looking at 4,280 to 4,360, breaking point looking at 4,400 to 4,450.
