9.2 Bitcoin and Ethereum Morning Market Analysis and Trading Suggestions

CN
10 hours ago

Morning Analysis: From the current market trend, after the price of Bitcoin fell below the key level of 110,000, it has not been able to regain this position. Instead, it has continued its downward momentum after encountering resistance, even setting a recent low yesterday. On the daily chart, although the rebound yesterday was not strong, it still closed with a bullish candle, maintaining a spiral pattern, with two bullish candles engulfing one bearish candle; on the hourly chart, the price of Bitcoin has broken through the EMA24/52 moving average resistance, forming a golden cross with an upward turn. Overall, it is highly likely to continue testing the key resistance at 110,000 during the day.

Ethereum's performance yesterday was mostly out of sync with Bitcoin. Currently, the overall short-term trend is strongly bearish, with support levels being broken one after another. The price has been constrained by the trend pressure at 4,500 for three consecutive trading days, and this resistance has proven to be significant. The 4-hour chart shows a low-level consolidation pattern, with indicators such as MACD, KDJ, Bollinger Bands, and EMA24/52 all pointing downward, indicating that the short-term remains under bearish control. Key resistance levels to watch during the day are 4,360 and 4,410-4,440.

Trading Suggestions: For Bitcoin, consider going long near 108,000-108,300, with a stop loss at 107,000 and a target in the 109,500-109,900 range. If it breaks, look for 110,300-110,800; if it doesn't break, consider going short.

For Ethereum, consider going short near 4,410-4,440, with a stop loss at 4,470 and a target in the 4,360-4,330 range. If it breaks, look for 4,300-4,280; if it doesn't break, consider going long.

This strategy is for reference only; please invest cautiously and secure profits. (Follow Dan on WeChat: Ethereum Kai)

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