Zhou Yanling: 8.18 Bitcoin Ether today's latest trend prediction analysis and trading strategy

Since last Thursday's large bearish candlestick, Bitcoin has been running weakly. Currently, on the 4-hour chart, it has been hovering weakly near the support of the short-term moving averages. The new week is expected to continue the bearish trend, and if it breaks below the support level of 116000, we will look further down to around 112000 for support next week. This level is also a key point where a potential wave-like rebound could form later. It is the most likely level to be reached next week. As for the upper pressure, we continue to focus on the 120000 level, which is also a previous turning point of multiple tops and bottoms. However, if it remains bearish in the future, the rebound should not exceed this level, unless it forms a piercing pattern. Considering various formations, if Bitcoin rebounds first next week, we will still maintain a bearish outlook.
Currently, the market trend shows that the daily level indicates recent prices are fluctuating within the range of 117000-119000. Yesterday, a small bullish line was recorded, but overall, it is still in the recovery phase after the previous major decline. The hourly level has formed a high-level consolidation pattern, and the current price is close to the previous high point, indicating some selling pressure in the short term. The hourly DIF and DEA averages are gradually flattening, with red bars shortening and momentum weakening; the daily MACD has crossed above the zero line but continues to move upwards with limited strength. The hourly RSI is at 46, leaning towards a neutral zone, not entering overbought or oversold; the daily RSI is at 56, slightly strong, but not yet breaking through the key trend signal. The hourly EMA7 is close to the current price, which may provide short-term support; EMA30 is also below, further enhancing support. The daily EMA120 poses pressure on the upward movement. Therefore, in the short-term operations, Yan Ling believes that the main strategy should still be to take short positions.
Zhou Yanling 8.18 Bitcoin trading strategy:
1. Short from 119000 to 118200, stop loss above 12000, target 117300 to 116200, continue to look for a decline near 114800.
2. Long at 114500-115500, stop loss below 113500, target 117000-118000
Zhou Yanling 8.18 Ether trading strategy:
1. Short at 4580-4550, reserve 4600 to add to the short position, stop loss above 4650, target 4500-4460, continue to look down at 4385.
2. Buy around 4400-4440, stop loss below 4350, target 4500-4540
[The above analysis and strategy are for reference only. Please bear the risks yourself. The publication or review of the article may have delays, and the specific operations should be based on Yanling's real-time strategy.]
This article is exclusively shared by senior analyst Zhou Yanling. The author has been engaged in financial market investment research for over ten years and currently mainly analyzes and guides the trading of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrencies in contracts/spot trading. The author possesses a solid theoretical foundation and practical experience, is skilled in combining technical and fundamental analysis, focuses on capital management and risk control, and has a stable and decisive trading style. The author is recognized by many investment friends for their easygoing and responsible personality combined with sharp and decisive trading.