Bitcoin dropped to a low of 109,269 last night before quickly rebounding, reaching a high of 113,384 today. The analysis from yesterday reminded that the key support at 108,400 cannot be broken; if it is, we will continue to look for a pullback. For now, the price has returned above the MA20, forming a head and shoulders bottom pattern on the 4-hour chart, so the upward pressure continues at 115,500 to 117,400, which is near the MA60 resistance.

Ethereum's price has not changed much and remains in a high-level consolidation. Yesterday, it was mentioned to trade short-term between 4,200 and 4,500. Tonight, the non-farm payroll data is expected to be favorable, and traders currently estimate a 100% chance of the Federal Reserve cutting interest rates this month, with the probability of a 50 basis point cut rising from 0 to 11.7%. Since the PUMP reminder on September 1, it has increased by more than 30%.

Bitcoin

The daily price has broken above 112,000 and is back above the MA120, but is currently being suppressed by the MA60. The MACD is at the zero axis, and the fast and slow lines are crossing without volume. In the short term, we continue to look for a rebound; the non-farm data is favorable, and the upcoming rebound pressure is at 115,500 to 117,400.

The 4-hour chart has formed a head and shoulders bottom pattern, with resistance around 103,500 and a challenge at 105,500. There are still 12 days until the interest rate cut, so we need to pay attention to the magnitude of the pullback after the cut before deciding whether to continue the rebound.

Support: 107,211 to 109,269

Resistance: 115,500 to 117,400

Ethereum

Ethereum is still in a high-level consolidation in the short term. Yesterday, it was also reminded to trade short-term between 4,200 and 4,500. The daily chart has a chance to break above the MA20; if it breaks 4,500, there is a chance to create another high before a pullback.

The daily MACD histogram is shortening, but there is still no volume. The suggestion remains to enter in batches at the bottom of the range, which is 4,200 to 4,060 (3,800 to 3,900).

Support: 3,850 to 4,060 to 4,200

Resistance: 4,500 to 4,788 to 4,956

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The article is time-sensitive and for reference only; it is updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Public account: BTC Trading Prince Fusu

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