Zhou Yanling: 8.29 Bitcoin BTC and Ethereum ETH Latest Trend Prediction Analysis and Trading Strategy
In recent days, the market has been in a pattern of repeated fluctuations. As we approach the end of the week, the current price of the coins shows a slight rebound. At this time, it is essential to focus on monitoring the market and observing the trading volume. Generally, if the price breaks through key resistance during the day, it is acceptable, as the probability of swings will be very high. It is rare to see a scenario where one coin stands out directly. If a breakout occurs during the U.S. trading session, it is likely to lead to such a scenario. Therefore, with yesterday's high point at 113500 being visibly apparent, we now need to observe the dynamics on the hourly chart. As long as there is no explosive breakout, we can consider entering a bearish position. Unless there is a significant recovery later in the night, which would indeed be hard to guard against, we will adjust our plan to follow the trend and go long.
Currently, from the technical indicators on the chart, Bitcoin's daily line has recently formed a long lower shadow bullish candle, indicating that bullish strength is gradually increasing. On the hourly chart, the price is oscillating within a narrow range, having tested the upper resistance around 113700 multiple times without breaking through, showing a short-term box consolidation. The hourly DIF and DEA are close to convergence, with the red bars shortening and momentum weakening; on the daily chart, the DIF is approaching the DEA, indicating a bullish trend but still needing confirmation. The hourly RSI is at 54.7, in a neutral zone, not entering overbought or oversold territory; the daily RSI is at 66.4, nearing the overbought zone but not yet overheated. The hourly EMA7 is above the current price, indicating short-term resistance; EMA30 provides support. The daily EMA120 is far from the current price, maintaining a long-term bullish trend, but short-term movements need to be monitored for pullback adjustments.
Zhou Yanling's 8.29 Bitcoin Trading Strategy:
Long at 111800-112800, stop loss below 110800, target 114300-115400
Short at 115600-114600, stop loss above 116600, target 113400-112600
Zhou Yanling's 8.29 Ethereum Trading Strategy:
Long at 4420-4460, stop loss below 4380, target 4600-4660
Short at 4680-4640, stop loss above 4720, target 4500-4450
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's 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 focusing on analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investment friends for his easygoing and responsible character combined with sharp and decisive operations.
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