Yueying: 1.20 Bitcoin Ethereum today's market analysis, once again testing the support zone. Will the decline continue in the evening or will it stop and rebound?

CN
4 hours ago

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The more diligent, the more effort; the more self-disciplined, the more excellent. I am Zhou Yueying, focusing on the trend analysis of mainstream coins, providing insights based on my own technical analysis of the market.

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Bitcoin Technical Analysis ————

From the daily chart, Bitcoin has broken the middle track support with six consecutive bearish candles, testing towards the 60-day moving average. The Bollinger Bands are narrowing while running upwards, and the short-term moving averages are turning down. The MACD fast and slow lines are crossing downwards, with the volume bars turning green, and KDJ is extending downwards, paying attention to the support near the 0 value. The VR indicator is consolidating around the 100 value. On the 4-hour chart, after breaking the lower track, the price rebounded but did not break through the 60-day moving average, then continued to decline, breaking the lower track and EMA200 again. Currently, it is running below the lower track, with the Bollinger Bands opening, and the short-term moving averages running downwards. The MACD fast and slow lines have broken below the 0 axis and are extending downwards, with the volume bars increasing again. KDJ has turned multiple times without forming a crossover, maintaining a downward shape, paying attention to the support near the 0 value. The VR indicator is consolidating around the 50 value. Overall, the market has returned to the previous consolidation area. Although the indicators are bearish, it is also a previous support area, so there is a probability of continuing to test downwards in the short term. One should not be overly bearish. In the short term, pay attention to the support around 89500 above and the resistance around 94000 below for short-term suggestions.

Bitcoin Short-term Suggestion: Buy at 90200, Sell at 93800 (Activate strategy and take profits as needed)

Ethereum Technical Analysis ————

The overall technical trend of Ethereum is similar to Bitcoin, so it can be referenced in conjunction. Since the market has returned to the previous support area, the short-term support to watch is above 3050, and the resistance to watch is below 3250 for short-term suggestions.

Ethereum Short-term Suggestion: Buy at 3080, Sell at 3218 (Activate strategy and take profits as needed)

—— I am Zhou Yueying, a teacher focused on technical analysis. Friends who have any questions about operations or trends can communicate and learn with me! Let's share and profit together!

The publication of articles has a delay, and the market changes rapidly. The above suggestions are for reference only, and risks are borne by the individual! The market changes every day, and what I can do is use my years of practical experience to provide some slight help, guiding your investment decisions and management on the right path. Meeting is fate; I am a person who believes in fate. If you have any doubts in the crypto world, you can follow Zhou Yueying more, and I believe it will be helpful to you.

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