8/13 Morning Analysis of Mainstream Coins
Observing the four-hour level chart, Bitcoin has once again fallen into a pressured pullback after a wave of rebound. Although the price briefly broke through the middle band of the Bollinger Bands, it has been firmly suppressed by dense resistance above, and the bulls' attempts to continue the upward movement have repeatedly been thwarted.
The MACD indicator shows a brief divergence, which is not a signal of bullish accumulation, but rather suggests that current momentum has shown signs of fatigue. A pullback correction is more likely a passive adjustment after the exhaustion of bullish strength, and subsequent downward pressure cannot be ignored.
On the one-hour chart, Ethereum's previous momentum of consecutive green candles breaking through the upper band of the Bollinger Bands has now halted, with the price quickly pulling back near the middle band. Although the MACD indicator's dual lines formed a golden cross and extended upward, the long upper shadow of the current bullish candle is particularly striking, which not only reflects short-term selling pressure but may also be a warning of bullish fatigue. The seemingly unchanged upward trend is actually showing signs of instability, and the upward momentum has been gradually depleting.
Overall, the current market rebound seems more like an interlude in a phase of adjustment. Subsequent operations should focus on high-altitude layouts after the rebound, while being wary of further downward risks under the guise of bullishness.
BTC: Short in the range of 120400-121000, targeting around 118000;
ETH: Short in the range of 4610-4630, targeting around 4500.
