Yueying: Bitcoin and Ethereum Market Analysis for August 11th - Short Positions Proceeded, Continue Shorting if Resistance Remains Unbroken

The short position in Bitcoin at 65300 mentioned above was executed, and the price moved within a range of approximately 1500 dollars. Looking at the daily chart, the previous candlestick closed as a solid bearish candle, breaking below the middle Bollinger Band, and the intraday opening continued the weak, volatile consolidation. The Bollinger Bands are narrowing, with short-term moving averages arranged in parallel. The MACD fast and slow lines crossed downwards, with the green histogram showing slight expansion. The KDJ is crossing downwards; watch for support around the 50 level. The VR indicator is consolidating around the 120 level. On the 4-hour chart, the price is facing resistance at the 60-day moving average and is currently trading above the lower Bollinger Band. The Bollinger Bands are widening, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards with continued expansion of the histogram, the KDJ has turned downwards again; watch for support around the 0 level. The VR indicator is consolidating around the 70 level. Overall, the price action, with its rebound met with resistance and trending downwards, is in line with expectations. Currently, the price is in a consolidation and correction phase within a downtrend; only a decisive breakout from this range will clarify the future direction. The short-term resistance level to watch is around 65500, while the support level is the 63000 mark, a key level for determining bullish or bearish trends. A break below this level could open up further downside potential; otherwise, expect continued consolidation. For Bitcoin, the short-term suggestion is to short at 64700. (Take profits as needed after strategy activation.) The short position given above on Ethereum was precisely executed, resulting in a move of over 60 dollars. Following Bitcoin's decline, the price is currently consolidating within a narrow range. The overall technical analysis of the daily and four-hour charts can be referenced in tandem with Bitcoin. The short-term resistance level to watch is around the previous high, while the support level is above 1800. A break above this level could lead to further consolidation. For Ethereum, the short-term suggestion is to short at 1900. (For more cryptocurrency analysis, click the image to see the homepage introduction.) —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!