Analyst Liang Qiu: On September 8, Bitcoin and Ethereum continue to fluctuate without breaking through. In the short term, pay attention to the support line below.

CN
13 hours ago

Follow for more updates, with potential earnings in the millions. Hello everyone, I am analyst Liang Qiu, and I am here to share my insights, hoping that every friend who follows can achieve good returns!

You can follow the public account Analyst Liang Qiu bb, focusing on mainstream coin guidance and layout. Bitcoin and Ethereum have been in continuous fluctuations for over a week, especially with a narrower range of fluctuations since the weekend, showing weak continuation for both bulls and bears. The price trend of Bitcoin is overall in a range-bound pattern. The price is currently between key support and resistance, with $108,000 as the key support level and $114,000 as the important resistance level. In terms of technical indicators, the short-term moving averages are slightly rising, but the long-term moving averages are still in a downward trend. The Bollinger Bands are gradually narrowing, with the price hovering near the middle band. A bullish engulfing pattern has appeared on the daily chart, but the trading volume has not effectively increased, indicating insufficient upward momentum. The 2-hour K-line has continuously closed in the green, and the MACD momentum has slightly strengthened, giving a slight advantage to the bulls in the short term, but the larger trend remains bearish.

Ethereum has been hovering around the $4,300 level, in a low-level consolidation phase. In terms of technical indicators, the overall technical structure is bearish, but the downward momentum has slowed. A bullish engulfing pattern has appeared on the daily chart, suggesting a potential rebound. The moving average system is still in a bearish arrangement, with the price continuously under pressure below both short-term and long-term moving averages. The 2-hour chart shows a converging triangle consolidation pattern, with a temporary balance between bulls and bears. The daily MACD shows weakening bearish momentum, while the 2-hour MACD indicates a tug-of-war between bulls and bears.

The short-term bearish trend remains unchanged, and patience is needed for further upward adjustments. However, attention should be paid to the short-term support levels at $4,230 and $109,500. If there are multiple unsuccessful attempts to test these levels, it may lead to a bottoming rebound, and the overall space for movement will be relatively large, so watch for the transition between bulls and bears.

Currently, the market outlook is relatively good. I recommend trading altcoins such as ORDI, LPT, SOL, and UNI in a swing trading manner. Specific operations should be based on real-time guidance. For more strategies, please follow the public account: Analyst Liang Qiu bb.

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