Yueying: Bitcoin and Ethereum Market Analysis (August 3-4): Shorting on Rebounds Amid Weakness (with Latest Strategy)

On the daily chart, Bitcoin found support around 63000, rebounded, and broke through the 60-day moving average. Intraday, it opened under pressure from the 7-day moving average, rallied, and then weakened before trending downwards. The Bollinger Bands are slightly widening downwards, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards with increasing green histogram bars, the KDJ is turning downwards, watch for support near the 0 level, and the VR indicator is consolidating around 110. On the 4-hour chart, the price opened with a bearish candlestick, breaking below the middle Bollinger Band, and is currently trading around 62500. The Bollinger Bands are narrowing, short-term moving averages are trending downwards, the MACD fast and slow lines are trending downwards with decreasing volume, the KDJ is again encountering resistance near 100 and turning downwards, and the VR indicator is consolidating around 50. Overall, the market is trending downwards with a weak momentum. There was no rebound during the European session, turning support into short-term resistance. Therefore, the intraday strategy is mainly to sell on rallies. Short-term resistance is around 64,000, and support is around 61,000, followed by the psychological level of 60,000. If this level is broken, there is still room for further downside. See short-term recommendations. Bitcoin short-term recommendations: Short at 63,500, Long at 61,500 (Take profits as needed). Ethereum's 4-hour chart shows consecutive bearish candles, a false break below the lower Bollinger Band followed by a rebound, and a weak consolidation around the lows today. The overall technical analysis can be referenced in conjunction with Bitcoin. Short-term resistance is around 1900, and support is around 1760. If these levels are broken, further consolidation is expected. See short-term recommendations. Ethereum short-term recommendations: Short at 1880, Long at 1780 (For more cryptocurrency analysis, click the image to see the homepage introduction and find Yueying). — I am Zhou Yueying, a teacher specializing in technical analysis. Feel free to discuss and learn with me if you have any questions about trading or trends! Let's exchange ideas and benefit together!