Li Ying Chat Coin: 8.31 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis

Dear friends! The current price of Bitcoin is 78,600, feeling like it is gathering strength. Many people are worried about a potential crash. From the technical indicators, the EMA moving average system shows a repairing pattern after a bullish arrangement. The EMA7 crosses below the EMA30 forming a short-term death cross, indicating some selling pressure in the short term, but the price is still strongly supported by the EMA120, which is the dividing line between bulls and bears. The MACD indicators DIF and DEA are negative, showing weakening bearish strength, with a golden cross expected. The Bollinger Bands are narrowing and flattening, with the price running between the middle band at 77,978 and the lower band, with the middle band forming the first resistance level. Overall, the indicators are in a repair period after being oversold, showing insufficient downside momentum, but an upward movement also needs to break through the middle band for confirmation.

Short-term trading ideas reference:

Go long at 78,500-78,000, stop loss at 500 points, target 80,000 aiming for 81,000.

Go short at 80,500-81,000, stop loss at 500 points, target 79,500 aiming for 78,500.

Ethereum

Dear friends, the current price of Ethereum is 2,475, obviously taking a breath. You can see from the K-line that it has been moving sideways between 2,450 and 2,500 for the past few days, not creating new highs but not dropping significantly, indicating that the main force is washing out uncommitted retail investors. On the technical side, the EMA shows a standard bullish arrangement. The MACD indicator DIF and DEA crossed below the zero axis, and the shortening green bars indicate that bearish momentum is exhausted. The Bollinger Bands are narrowing, with the upper band at 2,472 and lower band at 2,425, and the price is above the middle band of 2,449, belonging to a strong consolidation range. If the price can stabilize above the middle band and break through the upper band, it will start a new round of increases; conversely, a drop below the middle band may test the support at the lower band. Overall, the indicators resonate indicating the potential for upward movement, waiting for a breakout signal.

Short-term point reference:

Go long at 2,460, with a defense at 2,420, stop loss at 40 points, target 2,520 aiming for 2,570.

Go short at 2,500, with a defense at 2,530, stop loss at 40 points, target 2,470 aiming for 2,430.

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