In the 1-hour chart, Bitcoin's original stair-step rebound momentum has not continued, and it has dropped after hitting the upper track, now caught in a wide range of fluctuations. The bears have already started to increase their volume, and the moving averages are all pointing downwards, indicating that it will continue to fall.
Looking at the 4-hour chart again, the price previously broke through the middle band of the Bollinger Bands but couldn't hold it. The K-line also produced a death cross signal. Although there is a struggle between bulls and bears, it is clear that the bears are stronger. It is more reliable to wait for a rebound before opening a short position.
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8.28 ETH market analysis ideas:
In the 1-hour chart, Bitcoin's original stair-step rebound momentum has not continued, and it has dropped after hitting the upper track, now caught in a wide range of fluctuations. The bears have already started to increase their volume, and the moving averages are all pointing downwards, indicating that it will continue to fall.
Looking at the 4-hour chart again, the price previously broke through the middle band of the Bollinger Bands but couldn't hold it. The K-line also produced a death cross signal. Although there is a struggle between bulls and bears, it is clear that the bears are stronger. It is more reliable to wait for a rebound before opening a short position.
Operation Suggestions:
- In the range of ETH 4550 to 4620, you can set up a short position, targeting first at 4450, and if that breaks, then look down to 4400.
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