Li Ying Chat Currency: 8.6 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis

Currently, Bitcoin is at 64300. From the chart, it can be seen that the price has just slowly climbed up from below and has stepped over several important moving averages. This is usually a good sign. It previously dropped to around 62500 without much movement, and now the rebound momentum is quite good, feeling like it is gathering strength to push upwards. However, the 65000-66000 range has trapped many people before, and the technical indicators currently lean towards a bullish arrangement. The short-term EMA moving average momentum is stronger than the mid to long-term cost. The MACD indicator shows moderate and continuous upward momentum without any divergence signals. The price is running between the middle track at 64051 and the upper track at 64546, with the middle track inclined upwards, and the lower track at 63557 forming strong support. The channel opening is slightly expanding, indicating an increase in volatility. If it can effectively break through the upper track, it will open up new upward space.

Short-term trading ideas reference:

Go long at 63800-63400, stop loss at 63000, target 64500 aiming for 65000.

Go short at 65000-65500, stop loss at 66000, target 64500 aiming for 63500.

Ethereum

Currently, Ethereum is priced at 1870. This kind of market tests one's mentality. Fearing getting trapped while chasing highs, and fearing missing out while cutting losses. The current market gives the feeling that there is pressure above and support below. The technical indicators EMA7 and EMA30 are currently entangled together, and the short-term bullish and bearish forces are very balanced. The MACD indicator shows a typical lack of momentum, indicating that a market change is imminent. The price is running near the middle track at 1869, and the opening is starting to contract, with the upper and lower tracks at 1878 and 1859 respectively. A narrowing Bollinger Band usually heralds significant volatility, and the current price is compressed within a very narrow range, brewing a potential breakout.

Short-term price reference:

Go long at 1850, defend at 1830, stop loss at 1800, target 1960 aiming for 2000.

Go short at 1980, defend at 2010, stop loss at 2040, target 1920 aiming for 1890.

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