Zhou Yanling: 8.31 Bitcoin BTC Ethereum ETH Latest Trend Prediction and Trading Strategy for Next Week
Last week, the overall price of cryptocurrencies showed a downward trend. Currently, the market is most concerned about the increasing expectations of interest rate cuts. With September approaching, the trend for next week is particularly important. If there is an upward breakout stimulated by news of interest rate cuts next Monday, the bullish momentum in the later period will be significant, potentially leading to new historical highs. Conversely, if the market opens high but closes low next week, continuing to break down, a black swan event could occur. Therefore, this September presents both opportunities and potential traps for the crypto market. It is essential for everyone to implement risk control measures and avoid blindly following the crowd in trading.
Currently, from the market trend perspective, Bitcoin's daily chart has experienced a significant decline recently and is now forming a short-term consolidation pattern. The candlesticks for August 30 and 31 are small bearish candles, indicating weak market sentiment, but there are no clear signs of a trend reversal. The hourly chart is currently showing a short-term downward channel, with both highs continuously decreasing and lows being compressed, suggesting that bearish forces are dominant. The MACD on the hourly chart is below the zero line, with the fast and slow lines diverging downwards. The red histogram is weakening but still has some strength, indicating that the current bearish momentum has not been fully released. The RSI on the hourly chart is around 46, not entering the oversold zone, but overall it is weak, indicating insufficient buying power. The EMA on the hourly chart shows a death cross between the 7 and 30 moving averages, with prices repeatedly hitting the EMA7 and then retreating. The EMA120 is far from the current price, further confirming the short-term bearish trend.
Zhou Yanling's 8.31 Bitcoin Trading Strategy:
Short at 110500-109500, stop loss above 111500, target around 107500, continue to look for a decline towards 105000.
Long at 107700-108500, stop loss below 106500, target 109500-110500.
Zhou Yanling's 8.31 Ethereum Trading Strategy:
Short at 4530-4490, stop loss above 4580, target 4375-4330, continue to look for a decline towards 4260.
Long at 4320-4370, stop loss below 4280, target 4450-4500.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This content 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 focusing on analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing and responsible character combined with sharp and decisive operations.
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