Yueying: Bitcoin and Ethereum market analysis on August 24. After a strong surge and sideways movement, will it plunge? Including short-term strategy.

CN
2 days ago

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The more diligent, the more effort; the more disciplined, the more excellent. I am Zhou Yueying, focusing on the trend analysis of mainstream currencies, providing insights into the market through my own techniques.

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Bitcoin Technical Analysis————

On the daily chart of Bitcoin, after the previous K candle closed positively, it rebounded after piercing downwards. At the opening today, it faced pressure around 78000 and has retraced downwards for adjustment. The Bollinger Bands are opening upwards, and the short-term moving averages are moving upwards. The MACD fast and slow lines are extending upwards, and the volume bars are shrinking. The KDJ is running downwards; pay attention to the resistance near the 100 level. The VR indicator is consolidating around the 180 level. Looking at the four-hour chart, the market is oscillating narrowly above the middle track. The Bollinger Bands are in a constricted state, with short-term moving averages running horizontally upwards. The MACD fast and slow lines are running downwards with green volume bars continuing to expand, and the KDJ is turning downwards; keep an eye on support around the 50 level. The VR indicator is consolidating around the 300 level. Overall, after the market surged, it experienced high-level oscillations during the weekend. The short-term idea remains unchanged; after a strong surge, if a plunge for whipsaw occurs, it is also normal. Continue to pay attention to the breakout situation of two resistance points above: around 80000 and 83000. For the downside support today, pay attention to two positions: the first is around 75000, and the second is around 73800. If the market wishes to disarm the bears, the retracement will not be significant; here is a short-term suggestion:

Bitcoin Short-term Suggestion: Buy at 75500. (Activate the strategy and take profits accordingly)

Ethereum Technical Analysis————

The technical trends of Ethereum are linked to Bitcoin, serving as a reference. The idea remains as above; initially pay attention to the resistance zone around the previous high above. If it breaks through, there’s a high probability it will test the 60-day moving average on the weekly chart. On the downside, initially pay attention to support above around 2300; if the retracement is larger, watch for around 2230. Here is a short-term suggestion:

Ethereum Short-term Suggestion: Buy at 2350. (Activate the strategy and take profits accordingly)

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

There may be a delay in the review of article publication; prices change rapidly, and the suggestions above are for reference only; risks are to be borne by yourself! The market changes drastically every day; what I can do is leverage my years of practical experience to provide slight assistance to everyone, guiding your investment decisions and management towards the right direction. Meeting is fate; I believe in fate. If you have any confusion in the cryptocurrency circle, feel free to follow Zhou Yueying; I believe it will be helpful to you.

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