8.14 Evening Bitcoin and Ethereum Market Analysis
During the daytime session, Bitcoin encountered resistance around 63,600, and no second rebound followed to facilitate a recovery. Instead, it directly broke below the 63,000 level in the afternoon. It has now temporarily found support at 62,658 and stabilized around 62,800. Ethereum also declined in tandem, reaching a low of 1,868, but its subsequent rebound was relatively strong, and it is currently near 1,880. Those who truly maintain steady performance over the long term do not first train themselves to predict rises and falls, but rather to adjust their own approach at any time and adapt to the flexibility of the current market.
Recently, the market has felt as though buying support at lower levels has been fleeting, the rebound has consistently failed to gain enough ground, and it cannot withstand the pressure of selling at higher levels. Bitcoin is now extending its bearish structure further on the 1-hour chart, with the Bollinger middle band increasing its downward slope. The current candlestick is also fluctuating close to the lower band, indicating that bearish pressure remains persistent. This downward move has come faster than expected, and the rebound demand accumulated at lower levels is increasing. It is advisable to wait until the U.S. stock market opens in the evening before taking action, to guard against a rebound breaking out at any moment; once the willingness of trading volume to follow through becomes evident, consider shorting toward the 62,000 level to observe the support there. $BTC #Gate7月增长Top1 $ETH