In the early hours of today, the cryptocurrency market showed a positive rising trend. The price of Bitcoin experienced a fluctuation, rebounding from a low of $115,500 to around $117,500, then entering a consolidation phase, currently stabilizing at around $117,300. Ethereum followed in Bitcoin's footsteps, rising from a low of $3,780 to a high of $3,880.



From a medium-term trend perspective, the four-hour chart shows that the current price is close to the upper Bollinger Band, which indicates that the market is at a relatively high level, and the buying pressure is strong. The technical indicator MACD shows that the bullish strength is dominant, and the short-term market is in an upward trend.

However, from a short-term perspective, the one-hour chart shows that although the bulls are still in control, the price is approaching the upper Bollinger Band, indicating a risk of overbought pullback. Therefore, investors should remain cautious at the current position, as a short-term pullback may occur.

For day traders, it may be worth considering shorting opportunities near Bitcoin at $118,000 and Ethereum at $3,930, with target prices of $115,000 and $3,850, respectively.

It is worth noting that the Crypto Assets market is highly volatile, and investors should operate cautiously and manage risks well. At the same time, market conditions change rapidly, so it is recommended that investors closely monitor the latest market trends and news to adjust their trading strategies in a timely manner.
BTC-0.23%
ETH3.64%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
0/400
NightAirdroppervip
· 08-08 00:49
bullish just do it Cut Loss and then talk
View OriginalReply0
gas_fee_therapyvip
· 08-08 00:42
When it falls, I don't watch the market; when it rises, I also don't watch.
View OriginalReply0
FlashLoanLordvip
· 08-08 00:28
This rise is not enough to fill the gaps between teeth.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)