Gu Jingci: Ethereum traded sideways at high levels on August 24, while Bitcoin remained unchanged.

Yesterday, we repeatedly advised shorting Bitcoin/Ethereum on rallies and adding to short positions. The market saw multiple rallies followed by pullbacks, with Ethereum experiencing particularly large price swings. Currently, Bitcoin is hovering around the 77,000 level with relatively small fluctuations, while Ethereum's volatility is significantly higher. The 4-hour chart shows a recent rapid rise followed by range-bound trading, with the latest candlestick closing positive, indicating a recovery in buying power. The daily chart shows a strong upward trend followed by consolidation at higher levels. Technically, the 4-hour MACD's DIF line has crossed below the DEA line, forming a death cross, and the histogram is negative, indicating weak short-term momentum. However, the recent narrowing of the negative histogram, combined with rising price lows, suggests a potential bullish divergence, indicating a possible slowdown in the decline. Previous sharp rises and pullbacks were accompanied by high volume, while the recent consolidation phase has seen a significant decrease in volume, warranting caution regarding low-volume rallies or declines. Trading suggestion: Continue shorting Ethereum around 2450, with targets around 2350-2380, and a further target of 2500. The analysis and strategies provided are for reference only. Please assume all risks. The review and publication of this article may not be timely; please refer to real-time updates.