Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (August 31)

Bitcoin/Ethereum experienced a rapid decline in the early morning before rebounding. However, the 5-day and 10-day moving averages on the daily chart have converged and turned downwards, indicating significant downward pressure. Furthermore, the previous pullback after a surge failed to break the high, and the double top test last night further suggests further declines. The 4-hour chart shows a small positive candle after a rapid drop, but significantly reduced volume indicates insufficient upward momentum. The daily chart shows a large negative candle with high volume, indicating heavy selling pressure and dominance by bears in the short term. On the 4-hour chart, the DIF line has crossed below the DEA line, and both lines are below the zero line. The MACD histogram is negative and expanding, indicating a strong short-term downtrend with increasing downward momentum. The short-term moving average system is bearish, suggesting a significant risk of a short-term pullback. Trading recommendations: Short Bitcoin around 78200-78600, with a target around 76500; Short Ethereum around 2450-2470, with a target around 2380. 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.