Yesterday, the cryptocurrency market continued to maintain a fluctuating pattern, with BTC and ETH showing a rotating upward trend.

The biggest characteristic of the market is that prices continue to attempt to refresh short-term highs, but the trading volume has not effectively expanded. Although bulls are trying hard to push prices up, there is still a lack of sustained incremental capital entering the market, resulting in obviously insufficient upward momentum.

Even though US stocks continued to be strong last night, the cryptocurrency market did not show a synchronous volume increase, further reflecting that the current market is still restricted by insufficient liquidity, with capital primarily rotating between different assets, rather than flowing comprehensively into risk markets.

Yesterday, as a normal trading day, the overall volatility was relatively low, and there was still no clear direction, indicating that the market remains in a stage of accumulation.

On the macro front, the situation in the Strait of Hormuz continues to affect global risk appetite, and the uncertainty of geopolitical factors remains an important element suppressing market sentiment.

On-chain data has also shown some noteworthy changes:

• Long-term holders (LTH) have begun to decrease their holdings, with some long-held chips re-entering the market;

• This means that market supply has increased, and whether prices can continue to strengthen will depend on whether new demand can effectively absorb these chips.

Currently, both BTC and ETH have entered a phase of continuous narrowing of the Bollinger Bands, with volatility decreasing, indicating that the market is accumulating a new direction.

Generally speaking, the longer the consolidation lasts, the stronger the subsequent breakthrough tends to be.

Therefore, before a genuine breakthrough occurs, it is not advisable to heavily pursue buying on rises and selling on dips; it is more suitable to patiently wait for the market to complete its directional choice.

₿ Bitcoin (BTC)

View: Fluctuating waiting for a breakthrough, around 64500 remains key resistance.

BTC has maintained a slow upward oscillation since the flow of funds returned on August 3.

However, this morning, after testing the pressure near 64500 again, it experienced a decline, indicating that selling pressure above still exists.

From an overall structural perspective:

• High points are still gradually declining, and the larger descending structure has not been completely reversed;

• Although there is short-term repair, a breakthrough still requires a matching trading volume.

Key focus on the 64300-64500 area:

• If repeated attempts fail to stabilize, leading to a volume decline, then attention should be paid to support near 62500;

• If 62500 is lost, the lower range may further test the 61300-62200 area.

• If the daily line can consolidate above 64300 with increased volume, it is expected to continue challenging the 65000 line, further opening up rebound space.

Therefore, the current trend still belongs to a typical waiting for a breakthrough phase; before the direction is clear, it is more suitable to operate around key intervals by selling high and buying low, rather than following intraday fluctuations.

Key Positions

Support: 63250-62500

Resistance: 64300-64500 65000-65500

⟠ Ethereum (ETH)

View: Fluctuating waiting for direction, key attention on the 4-hour resistance level.

ETH is currently continuing to maintain narrow-range consolidation.

From an overall trend perspective:

• Higher levels remain bearish;

• Short-term sees ongoing tug-of-war between bulls and bears;

• The daily cycle is beginning to lean towards repair.

Currently, ETH is oscillating repeatedly around the 4-hour resistance level, with neither side forming a clear advantage.

Key points to note are:

• If ETH falls below around 1787, leveraged bulls may face significant liquidation pressure, and market volatility could further escalate;

• If it continues to challenge around 1900 and still fails to break through, caution is needed for sudden bear momentum leading to a rapid decline.

The most important thing now is to wait for directional confirmation, rather than betting on the market in advance.

Key Positions

Support: 1863-1850 1800-1820

Resistance: 1882-1900

Tencent Meeting 24-hour live broadcast room: 901-588-1279

Aicoin group chat search for Huijing Community or click group link to join: https://www.aicoin.com/link/chat?cid=onjrNpKn6

This article is published by 【Huijing Community】 and represents personal opinions only. Due to delayed information transmission, the content is for reference only and does not constitute any investment advice. Please make rational judgments and operate cautiously.
For more timely daily market analysis and strategic ideas, you are welcome to add Safew’s contact information or add three lines: HYSQks888, to join the group for free learning.
The community has 15 professional analysts monitoring the market live all day. Here, you can learn technical analysis methods in practice and understand the concepts of breaking even and risk control systems in a systematic way.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。