#我的七夕交易分享 8.17 Monday morning's latest Bitcoin and Ethereum outlook and analysis
Looking at the four-hour chart, after Bitcoin surged to the previous high of 65474, bullish momentum gradually weakened, forming a clear pattern of lower highs. The price has remained under pressure and pulled back, currently trading around 62892. The four-hour moving averages are turning downward and suppressing the market, while the rebound momentum is very limited. Each modest rally has been accompanied by selling pressure, making the rebound a weak recovery, with no high-volume reversal signal. Although the MACD indicator has formed a slight golden cross, momentum is not strong, favoring a rebound correction during the decline rather than the start of a new upward trend.
In terms of trading volume, volume has continued to shrink during the rebound, indicating insufficient willingness from bulls to follow through and heavier pressure from trapped positions above. Overall, bears have the upper hand, and the market is more likely to continue its downward trend. The resistance zone above is 63500‑64200. As long as the price cannot effectively hold above this range, the rebound will struggle to go far. First, watch the support around the previous low of 62270. If this support is broken on heavy volume, further downside will open up, with the next target at the 61100 level.
Morning trading approach
Bitcoin can be shorted in the 63200-63500 range, with a target of 62300
Ethereum can be shorted around 1880, with a target of 1850
This article is for reference only and does not constitute any investment advice!$BTC
Looking at the four-hour chart, after Bitcoin surged to the previous high of 65474, bullish momentum gradually weakened, forming a clear pattern of lower highs. The price has remained under pressure and pulled back, currently trading around 62892. The four-hour moving averages are turning downward and suppressing the market, while the rebound momentum is very limited. Each modest rally has been accompanied by selling pressure, making the rebound a weak recovery, with no high-volume reversal signal. Although the MACD indicator has formed a slight golden cross, momentum is not strong, favoring a rebound correction during the decline rather than the start of a new upward trend.
In terms of trading volume, volume has continued to shrink during the rebound, indicating insufficient willingness from bulls to follow through and heavier pressure from trapped positions above. Overall, bears have the upper hand, and the market is more likely to continue its downward trend. The resistance zone above is 63500‑64200. As long as the price cannot effectively hold above this range, the rebound will struggle to go far. First, watch the support around the previous low of 62270. If this support is broken on heavy volume, further downside will open up, with the next target at the 61100 level.
Morning trading approach
Bitcoin can be shorted in the 63200-63500 range, with a target of 62300
Ethereum can be shorted around 1880, with a target of 1850
This article is for reference only and does not constitute any investment advice!$BTC
