Gu Jingci: Bitcoin/Ethereum Weekly Chart Closes Soon on August 16th; Bull-Bear Battle to Be Resolved

The overall upside potential for Bitcoin/Ethereum has been evident in the recent strategy of shorting at higher levels. Currently, the market is consolidating sideways with no clear bullish or bearish trend. However, with the weekly close approaching at 8 AM tomorrow, a bearish weekly close is highly probable. Unless the levels of 63500 and 1900 are effectively broken and held, the market will likely continue its upward momentum followed by a pullback. The daily moving averages are showing signs of weakening and are nearing a key resistance level. Shorting on rallies is advisable, but a decisive break above and holding above the moving averages would signal a trend reversal and further upward movement. The 4-hour chart shows recent candlesticks with small bodies and long shadows, indicating a period of consolidation and struggle between bulls and bears. The latest candlestick is bullish but has an upper shadow, suggesting selling pressure above. The daily chart shows two consecutive bullish days after finding support, forming a short-term bottom, but upward momentum is insufficient to break through the resistance. On the 4-hour chart, the MACD indicator shows the DIF line crossing above the DEA line, forming a golden cross, and the red histogram bars are increasing, indicating that short-term bullish momentum is building and a rebound is likely. However, the recent two-day rebound has seen shrinking trading volume, confirming the assessment of insufficient upward momentum. Evening trading suggestions: Short Bitcoin around 63300-63600, with a target of 61000-62000; Short Ethereum around 1890-1900, with a target of 1800-1830. Analysis and strategies are for reference only; please bear your own risks. Article review and publication are not timely; please refer to real-time information.