Zhou Yanling: 8.8 Latest Bitcoin BTC & Ethereum ETH Market Trend Analysis
Since August, the entire Bitcoin market has basically been fluctuating within the 62,000-66,000 range. Last night was the closest moment to the upper resistance level in recent times, but on the daily chart, the Bitcoin box is still not broken, and the 20-day moving average is holding the price up, but the volume is weak, so overall it's still moving within a cyclical shock range and has not made a big move yet. The 65,500-66,000 area above is a major barrier, while the 63,500-64,000 level below is a key support zone. On the 4-hour chart, the price is also testing levels right now—once it touches 65,000, it faces selling pressure and momentum is average. If 64,000 can continue to hold, there's still hope up ahead, but if it breaks down, be prepared for a further drop. The 1-hour chart is already slightly overheated; there is heavy selling pressure at 65,000, and only if there is high volume and a solid hold above 65,200 can there be a new push upward. If not, expect the price to look for support lower. However, volatility over the weekend is expected to be relatively limited, so just trade short-term fluctuations within the small range.
Zhou Yanling 8.8 Bitcoin:
1. Short at 66,000-65,300, stop loss above 66,700, target at 64,100-63,500
2. Long at 63,500-64,100, stop loss below 62,800, target at 65,000-65,500
Zhou Yanling 8.8 Ethereum:
1. Short at 1,950-1,930, stop loss above 1,980, target at 1,870-1,850
2. Long at 1,850-1,870, stop loss below 1,820, target at 1,930-1,950
[The above analysis is for discussion only and does not constitute investment advice!]
