Liying Chat Coin: 8.29 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis

　　Family! The current price of Bitcoin is 79200, unable to go up or down. Many new friends ask me: Can I still chase it now? To be honest, this kind of high-level consolidation market tests the mentality the most. The technical indicators show that the short-term moving averages are converging, indicating an unclear trend. The MACD indicator shows that DIF has crossed below DEA, forming a dead cross, and the bearish power is strengthening. The price is currently below the middle track of 79611 and close to the lower track of 78589, with signs of a narrowing opening, indicating a decrease in volatility, and about to face a direction choice. In summary, there is considerable adjustment pressure in the short term, and we need to be vigilant about the risk of breaking the lower Bollinger track.

　　Short-term Trading Thoughts Reference:

　　Long position 79100-78800, stop loss 500 points, target 81000 aiming for 82000

　　Short position 81200-81500, stop loss 500 points, target 80500 aiming for 79500

　　Ethereum

　　Family, the current price of Ethereum is 2500, and this trend is like entering a break area after a roller coaster ride. Previously surged from around 1860 to 2566, now it has been consolidating at a high level for several days, with both bulls and bears observing. The EMA moving average system is in a bullish arrangement going upward, indicating the medium to long-term trend is still bullish. Although the MACD indicators DIF and DEA have slightly converged, it has not formed a dead cross and is in a healthy correction. The price is running close to the middle track of 2502, with the distance between the upper and lower tracks narrowing, indicating a change in trend is imminent. The current price is between the middle track and the upper track; if it can effectively stabilize at the middle track and break above the upper track of 2525 with volume, the bullish trend will continue; conversely, if it falls below the middle track and forms a MACD dead cross, it may retest the lower track of 2479 for support.

　　Short-term Point Reference

　　Long position at 2490, defend at 2460, stop loss 40 points, target 2560 aiming for 2600

　　Short position at 2550, defend at 2570, stop loss 40 points, target 2500 aiming for 2450

　　The above content is exclusive original work by Liying, please indicate the source when reprinting! There may be delays in article review, and the market changes rapidly; the above suggestions are for reference only and risk is borne by the reader.

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