Zhou Yanling: 8.5 Today's Bitcoin and Ethereum Latest Trend Prediction Analysis and Trading Strategy
After this wave of deep decline and subsequent rebound, many people are likely trapped. What you need to do now is to stay calm and carefully examine how to view this market, rather than starting to look for resistance and bearish signals just because you are stuck, eager to get out. This will only make things more difficult for yourself. Clearly, if you are short and trapped, you need to plan your strategy rather than directly trying to average down. The risk of left-side trading is quite high; if you repeatedly short without clear signs of a market top, you will only exhaust yourself until you finally hit a peak. Even if you do touch a top once, you will still doubt whether it will rebound and run away. The price of the coin has rebounded to a point where it seems likely to go bearish, especially since the resistance level of the trend line is approaching. However, the more it seems like this, the less you should take that short position. The reason is simple: during a strong bullish phase, combined with the high-level fluctuations in the morning session, there is a high probability of another wave of continuation and new highs. So wait until it can truly break out before making a decision.
Currently, from the technical indicators analysis, the daily chart formed a long upper shadow bullish candle yesterday, indicating heavy selling pressure above. As of August 5, the current price has fallen back to near the low of the previous trading day. The hourly chart has shown a gradual decline after recent high-level fluctuations, with consecutive small bearish candles indicating short-term weakness. The technical indicators on the hourly chart show a death cross between the DIF and DEA, with green bars expanding, indicating enhanced bearish momentum; the daily chart remains above the zero line, but bullish momentum has weakened. The hourly RSI is hovering around 42, not yet in the oversold zone but showing weakness; the daily RSI has fallen from the overbought area and is currently around 50-55, indicating a neutral to weak trend. The hourly price has broken below the EMA7 and EMA30, approaching the EMA120; the daily price is running below the EMA7, with short-term moving averages turning down, while the medium to long-term moving averages still maintain a bullish arrangement.
Zhou Yanling's 8.5 Bitcoin Trading Strategy:
Buy at 113500-114200, stop loss below 112500, target 115200-116000, continue to look for 117000 nearby.
Sell at 117000-116200, stop loss above 118000, target 114800-114000.
Zhou Yanling's 8.5 Ethereum Trading Strategy:
Buy at 3600-3640, stop loss below 3550, target 3800-3850.
Sell at 3880-3840, stop loss above 3930, target 3720-3680.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. He has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, focuses on capital management and risk control, and is recognized by many investors for his steady and decisive trading style, along with his easygoing and responsible character.
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