Zhou Yanling: 8.18 Bitcoin and Ethereum Latest Trend Prediction Analysis and Trading Strategy
Since the large bearish candle last Thursday, Bitcoin has been in a weak trend. Currently, on the 4-hour chart, it has been hovering weakly near the support of the short-term moving averages. In the new week, it is expected that the bearish trend may continue. If the support level around 116,000 is broken, then the next support to look for will be around 112,000, which is also a key point that may form a wave-like rebound later. This is the most likely position to be reached next week. The resistance above continues to focus on the 120,000 level, which is also a previous top-bottom conversion position. However, if it remains in a bearish trend later, the rebound should not exceed this level unless it forms a piercing pattern. Considering various patterns, if Bitcoin rebounds first next week, we will still maintain a bearish mindset.
Currently, the daily chart shows that the price has been fluctuating in the range of 117,000-119,000. Yesterday, a small bullish candle was formed, but overall it is still in the recovery phase after the previous large drop. The hourly chart has formed a high-level consolidation pattern, and the current price is close to the previous high point, indicating some selling pressure in the short term. The hourly DIF and DEA averages are gradually flattening, with the red bars shortening and momentum weakening. The daily MACD has continued to rise after a golden cross below the zero line, but the strength is limited. The hourly RSI is at 46, in a neutral zone, not entering overbought or oversold territory; the daily RSI is at 56, slightly strong, but has not yet broken through the key trend signal. The hourly EMA7 is close to the current price, which may provide short-term support; EMA30 is also below, further enhancing support. The daily EMA120 poses resistance to upward movement. Therefore, in the short-term operation, Yanling believes that the focus should still be on short positions.
Zhou Yanling's 8.18 Bitcoin Trading Strategy:
Short at 119,000-118,200, stop loss above 120,000, target 117,300-116,200, continue to look for a decline towards 114,800.
Long at 114,500-115,500, stop loss below 113,500, target 117,000-118,000.
Zhou Yanling's 8.18 Ethereum Trading Strategy:
Short at 4,580-4,550, reserve 4,600 for additional short positions, stop loss above 4,650, target 4,500-4,460, continue to look for a decline towards 4,385.
Long at 4,400-4,440, stop loss below 4,350, target 4,500-4,540.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. He has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, emphasizes capital management and risk control, and is recognized by many investors for his steady and decisive trading style, as well as his easy-going and responsible personality.
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