Li Ying Chat Coin: 8.4 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis

Currently, Bitcoin is at 63900, oscillating back and forth in a large range. This position is quite awkward; if we say it will drop, there seems to be support below; if we say it will rise, there’s heavy pressure above. The current market is like gathering strength, either holding back a big move upwards or slowly declining to find a new low. The technical indicator MACD is currently below the zero axis, with the fast and slow lines showing a gold cross trend, indicating that the bearish strength is weakening and the bulls are attempting a counterattack. The moving average system is quite chaotic, with EMA7 and EMA30 entangled, which is a typical oscillation signal. The Bollinger Bands are clearly tightening, with both the upper and lower bands approaching the middle band, indicating that volatility is decreasing and a change in trend is imminent. The price is currently running above the middle band, slightly bullish, but as long as it doesn't break the upper band at 63902, it remains in an oscillating pattern.

Short-term trading reference:

Buy points 63000-62500, stop loss 62000, target 64500 aiming for 65000

Sell points 65000-65500, stop loss 66000, target 64500 aiming for 63500

Ethereum

Currently, Ethereum is priced at 1870, and the bulls seem a bit powerless as the price has been steadily declining. There are moving averages above pressuring it, and support below holding it up, with not much trading volume. The technical setup of the EMA moving average system shows a bearish arrangement, with short-term EMA7 at 1859, mid-term EMA30 at 1865, and long-term EMA120 at 1881, indicating a weak trend. The MACD indicator shows that both DIF and DEA are below the zero axis and have not formed a gold cross, indicating insufficient momentum. The price is running around the middle band at 1864, with the upper and lower bands narrowing, suggesting a decrease in volatility and an impending direction choice. Overall, the technical indicators are hinting that we are currently in a weak oscillating phase, and we need to patiently wait for a breakout signal.

Short-term point reference

Buy point 1850, defend 1830, stop loss 1800, target 1960 aiming for 2000

Sell point 1980, defend 2010, stop loss 2040, target 1920 aiming for 1890

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