Yueying: Bitcoin and Ethereum Market Analysis for August 24th - Will the Strong Rally and Consolidation Followed by a Plunge? (Short-Term Analysis Included)

Bitcoin's daily chart shows a bullish candlestick followed by a downward wick and rebound. Intraday opening saw consolidation around 77000, below the upper Bollinger Band. The Bollinger Bands are widening upwards, short-term moving averages are trending upwards, the MACD fast and slow lines are extending upwards with decreasing volume, the KDJ is trending downwards with resistance around 100, and the VR indicator is consolidating around 180. On the 4-hour chart, the price is consolidating in a narrow range above the middle Bollinger Band, the Bollinger Bands are narrowing, short-term moving averages are trending upwards horizontally, the MACD fast and slow lines are trending downwards with increasing green volume, the KDJ is turning downwards with support around 50, and the VR indicator is consolidating around 300. Overall, after the price surge, the market consolidated at high levels over the weekend. The short-term strategy remains unchanged from the previous analysis. A sharp drop after a strong rally is normal. Continue to monitor the two resistance levels: 80,000 and 83,000. For pullback support, watch two levels today: 75,000 and 73,800. If the market continues to force the bears to surrender, the pullback will not be significant. See short-term recommendations: Bitcoin short-term recommendation: Buy at 75,500. (Take profits as needed after strategy activation). Ethereum's technical analysis is similar to Bitcoin's and can be used as a reference. The strategy remains the same as above. First, watch the resistance zone around the previous high. A break above this level would likely test the 60-day moving average on the weekly chart. On the downside, watch the support around 2300. If the pullback is significant, watch the 2230 area. See short-term recommendations: Ethereum short-term recommendation: Buy at 2350. (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. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!