Gu Jingci: Bitcoin/Ethereum Trading Strategy and Market Analysis (August 30th)

As previously mentioned, shorting Bitcoin/Ethereum on rallies and adding to short positions has resulted in a significant drop from the highs to around 76800 and 2405. Currently, the price has rebounded somewhat. The market traded sideways over the weekend, and the initial plan was to short again after a larger rebound, but the rebound has fallen short of expectations. The 4-hour chart shows a slight rebound after a recent sharp decline with high volume, but the rebound momentum is weak, the candlestick bodies are small, and the trading volume is shrinking. The daily chart shows a large bearish candlestick with a long lower shadow and high volume, indicating some support below, but heavy selling pressure. Technically, both the DIF and DEA lines are below the zero line, indicating a short-term bearish trend. However, the DIF line shows signs of turning upwards, and the MACD histogram is converging from negative values, indicating that the bearish momentum is weakening, potentially suggesting a short-term rebound. Looking at the moving averages, there is resistance at the 2470-2480 and 78500-79000 levels above the daily and 4-hour moving averages, which are turning downwards. Watch for resistance and potential pullbacks. Early morning trading suggestions: Short Bitcoin around 78200-78600, target around 76500; Short Ethereum around 2460-2480, target around 2360-2400. 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.