Zhou Yanling: 8.12 Today's Bitcoin BTC and Ethereum ETH Latest Market Trend Analysis

Finally, there is a sign of a drop. The market in these days has really been dragging; the rebound is as weak as a mosquito's kick, while the decline is gradually eating away. Looking at the indicators, it seems they might hold up, but refreshing the market shows a downward move again. Last night's continuous drop was quite powerful, as we expected it to drop to around 63500. Now the daily line is testing a key support area, and the Bollinger Bands are constricting, continuing to hold back a change in trend. The RSI is at 41 and weakening but has not yet entered oversold territory, while the MACD green bars are expanding, indicating that the bullish momentum has clearly extinguished. Next, focus on defending the range of 62500-63000; if it holds, it can still play within the large range. The upper pressure is at 64800-65500. Currently, the 4-hour chart has confirmed a retracement structure, with moving averages heading down collectively, and the MACD death cross continuing. The selling pressure is constantly being released. The first support level is at 63000; a breakout would directly test 62500; the rebound pressure is at 64500. If it can't break this, continue to take short positions at highs. In the short term, the 1-hour chart is also dominated by bearish momentum; the highs are continuously falling. The RSI is approaching the oversold zone, which may result in a minor rebound, but it's highly likely only a market correction.

Zhou Yanling 8.12 Bitcoin:

1. Short at 64300-63800, stop loss above 65000, target 63500-63000, continue to look for a drop towards around 62500

2. Long at 62700-63200, stop loss below 62000, target 63700-64200

Zhou Yanling 8.12 Ethereum:

1. Short at 1885-1865, stop loss above 1915, target 1830-1820

2. Long at 1820-1840, stop loss below 1790, target 1870-1890

[The above market analysis is for casual reference only and does not constitute investment advice!]

The content of this article is exclusively shared by senior analyst Zhou Yanling (WeChat official account: Zhou Yanling 8). The author has been engaged in financial market investment research for more than ten years and currently mainly analyzes and guides BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. They have a solid theoretical foundation and practical experience, are good at combining technical aspects with news, focus on capital management and risk control, and have a stable and decisive operation style. They are recognized by many investment friends for their easy-going yet responsible personality and their sharp and decisive operations.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。