Li Ying on Crypto: 8.31 Latest Market Analysis of Bitcoin (BTC) and Ethereum (ETH)
Family! Bitcoin is currently priced at 78,600 and it feels like it’s gathering momentum. Many are worried about a possible sharp drop, but from a technical perspective, the EMA moving average system shows a corrective pattern after a bullish alignment. EMA7 crossing below EMA30 forms a short-term death cross, indicating some selling pressure in the short term, but the price remains strongly supported by EMA120, which is the boundary between bull and bear markets. The MACD indicator shows both DIF and DEA values in the negative, signaling that bearish strength is weakening and a bullish crossover is expected. The Bollinger Bands have narrowed and flattened; the price is running between the middle band at 77,978 and the lower band, with the middle band acting as the first resistance level. Overall, the indicators are in a corrective phase after being oversold. Downward momentum is lacking, but an upward move will need to break above the middle band for confirmation.
Short-term trading ideas:
Long entry at 78,500–78,000, stop loss at 500 points, target 80,000 aiming for 81,000
Short entry at 80,500–81,000, stop loss at 500 points, target 79,500 aiming for 78,500
Ethereum
Family, Ethereum is currently priced at 2,475 and is clearly catching its breath. Looking at the candlesticks, the past few days it’s been trending sideways between 2,450–2,500, not reaching new highs but also not falling sharply, indicating the main force is shaking out weak retail investors. Technically, the EMA is in a standard bullish alignment, and the MACD indicator shows DIF and DEA above the zero axis; after a death cross, the shrinking green bars show that bearish momentum is exhausted. Bollinger Bands have narrowed, upper band at 2,472, lower band at 2,425, price is above the middle band at 2,449, which is a strong consolidation zone. If the price holds above the middle band and breaks upward through the upper band, a new round of gains may start; otherwise, breaking below the middle band could test support at the lower band. Overall, indicator resonance points to a market ready for action, waiting for breakout signals.
Short-term positions for reference
Long entry at 2,460, defense at 2,420, stop loss at 40 points, target 2,520 aiming for 2,570
Short entry at 2,500, defense at 2,530, stop loss at 40 points, target 2,470 aiming for 2,430
The above content is exclusively original by Li Ying. When republishing, please cite the source! There may be delays in article review and publication, and market conditions change rapidly. The above suggestions are for reference only and come with risks.
