Zhou Yanling: 8.13 Today's Bitcoin BTC Ethereum ETH Latest Market Trend Analysis

Yesterday's trend for Bitcoin was basically within our expectations, it can be considered a double-edged sword for both bulls and bears, but Ethereum acted somewhat independently. Currently, the daily chart for Bitcoin shows that the market is still stuck in a range, fluctuating back and forth, with moving averages tangled together, and the strength of the bulls is visibly diminishing. The Bollinger Bands are tightening, indicating that a big move is building up. The resistance at 64400-64800 is difficult to break through, and the lifeline at 62500-63000 must be closely monitored. If it can hold, we may continue to see fluctuations, but if it breaks down, we need to be careful about moving downward. The 4-hour chart's condition is somewhat weak, with prices being pressed below the middle band, and the bears quietly gaining the upper hand. For a rebound, watch the resistance at 63900-64100; if it cannot break above, it could easily be pushed down again. In the short term, we need to see if 63000 can withstand selling pressure. Don't get too excited about small rebounds on the hourly chart; it's merely a technical correction, and the volume does not support a significant rise. Overall, from multiple timeframes, the market is leaning towards a weak stance, and to see a recovery, it must establish a steady presence above 64100 with increased volume.

Zhou Yanling 8.13 Bitcoin:

1. Short at 64200-63700, stop loss above 65000, target at 63500-63000, continue to look for breakdown towards 62500.

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

Zhou Yanling 8.13 Ethereum:

1. Short at 1910-1890, stop loss above 1940, target at 1850-1830.

2. Long at 1830-1850, stop loss below 1800, target around 1900.

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

This article's content is exclusively shared by senior analyst Zhou Yanling (Public Account: Zhou Yanling 8). The author has been engaged in financial market investment research for more than ten years, currently mainly analyzing and guiding operations in BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spots, possessing a solid theoretical foundation and practical experience. Skilled in combining technical analysis with news impacts, focusing on capital management and risk control, the author has a stable and decisive operating style, recognized by many investment friends for their easy-going responsible character and sharp decisive operations.

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