Li Ying Crypto Talk: 8.1 Latest Market Analysis for Bitcoin (BTC) and Ethereum (ETH)
Currently, Bitcoin is at 63,000. As the price continues to fluctuate downward, it's now stuck at the 63,000 mark. Many are wondering: is this a golden opportunity or a bottomless pit? The current market is like a spring accumulating energy. Although the short-term picture looks persistently bearish, the overall trend doesn't look completely broken if you take a longer-term view. The moving averages are clearly in a bearish alignment, and the 64,000-64,500 range above constitutes heavy resistance. The MACD indicator shows both DIF and DEA lines trending down, indicating that bearish momentum is still dominating the market and no clear bullish divergence has appeared yet. The Bollinger Bands suggest there may be a technical rebound. As long as the price does not break below the lower Bollinger band effectively, there is a chance of an oversold rebound, but the overall trend is still weak, so beware of a slow downward drift.
Short-term reference strategy:
Long entry at 63,000-62,500, stop loss at 62,000, target at 64,500 aiming for 65,000
Short entry at 65,000-65,500, stop loss at 66,000, target at 64,500 aiming for 63,500
Ethereum
Family, Ethereum’s current price is 1,874. This pattern is quite torturous. It previously managed to rally to a high of 1,982, but failed to hold and fell back down. The EMA7, EMA30, and EMA120 moving averages are nearly overlapping, indicating that short and medium-term costs are similar and the market lacks clear direction. Both DIF and DEA on the MACD are negative, suggesting bears are still holding an advantage. Price is hovering near the middle Bollinger band at 1,903, and the lower band at 1,863 is currently the floor. If it falls below this floor, it could open up a new downside space; but if it holds the middle band, there's a chance to challenge the upper band at 1,942.
Short-term reference levels
Long entry at 1,870, protection at 1,830, stop loss at 1,800, target at 1,960 aiming for 2,000
Short entry at 1,980, protection at 2,010, stop loss at 2,040, target at 1,920 aiming for 1,890
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