Cryptocurrency Li Ying: Bitcoin 'Bearish Pattern' Crisis Looming on 8.15! Ethereum 'Evening Star' Warning!
Current Bitcoin Price 118000, Li Ying has discovered that Bitcoin has once again reached a critical support and resistance zone, with significant conflicts in technical signals, indicating an unclear trend. On one hand, the candlestick pattern shows a bullish engulfing formation, suggesting that the support level of 112000 may become a critical reversal zone; on the other hand, the moving average system shows a bearish alignment, with prices falling below all moving averages, while trading volume has drastically reduced, forming a bearish resonance. This contradiction in technical signals makes it difficult to determine the short-term direction of the market, and there is a high probability that the market will enter a short-term bearish trend, with the possibility of the main force conducting back-and-forth liquidations. Therefore, Li Ying suggests that a short position can be opened on a short-term pullback to the resistance level above 119000, which combines the bearish alignment of moving averages and the bearish resonance signal from reduced trading volume. The support level of 112000 is critical, while the candlestick pattern shows a bullish engulfing signal, so Li Ying takes a low buy position near the support level.
Predicted Levels
Long Position 112500, Add Long at 112000, Stop 500 points, Target 126000
Short Position 119000, Add Short at 120500, Stop 500 points, Target 115000
Ethereum
Current Ethereum Price 4600, Li Ying has discovered that Ethereum shows a relatively neutral pattern in terms of technical aspects and external environment. The technical indicators show that, although the long-term trend remains bullish, the market momentum has significantly weakened in the short term, and trading volume has drastically reduced, forming a price-volume divergence. At the same time, a recent candlestick pattern has appeared as an evening star, further increasing the likelihood of a short-term bearish outlook. However, the price is currently near the critical support level of 4200, which is a dense trading area, indicating a strong support strength. In the short term, the market may contest in this area. Li Ying believes that the momentum is weakening in the short term, and the evening star pattern along with the price-volume divergence signals indicate that there is a pullback pressure in the market. Therefore, a high sell position should be taken near the resistance level, as long as the price does not break below 4750 on a pullback, the short position can be maintained.
Reference Levels
Long Position 4250, Add at 4200, Stop 30 points, Target 4650
Short Position 4700, Add at 4750, Stop 30 points, Target 4450
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