9.6 Bitcoin and Ethereum Morning Market Analysis and Trading Suggestions

CN
9 hours ago

9 Morning Analysis: From the 4-hour chart, the Bitcoin price is currently under pressure from the middle band of the Bollinger Bands. The KDJ indicator has formed a death cross with all three lines pointing downwards, but the Bollinger Bands are opening parallel, and there are long lower shadows on the K-line bodies, indicating that the support level at 110000 is still very strong. From the 1-hour chart, the market broke the upward trend with a bearish candle last night and fell below the 50.0 support level in the 111300-111600 area. As long as it re-establishes above this area during the day, it is likely to continue testing the resistance at 113500.

Looking at Ethereum from the 4-hour chart, the price has been oscillating within the B central area since August 29, with neither the upper pressure nor the lower support being broken. The MACD shows a death cross below the zero line in a parallel and twisted state, with the histogram in green, indicating that bears are dominant, but the green bars are shortening, which may suggest signs of stabilization. Subsequently, the trading volume has significantly shrunk, showing a strong wait-and-see sentiment in the market, lacking a clear direction. During the day, pay attention to the lower support at 4250 and the A central support area of 4210-4160.

Trading Suggestions: For Bitcoin, consider shorting around 111700 on the rebound, with a stop loss at 112500 and a target of around 110800-110300. If it breaks down, look for 109700-109300; if it doesn't break, consider going long.

For Ethereum, consider shorting around 4370-4400 on the rebound, with a stop loss at 4430 and a target of around 4300-4250. If it breaks down, look for the 4210-4160 area; if it doesn't break, consider going long.

These strategies are for reference only; please invest cautiously and secure your profits. (Follow Dan on WeChat: Ethereum Kai)

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