The weekly price of Bitcoin tested the middle support level, and only a break below this support price can open up space downward. The daily candlestick formed a medium bullish line with a longer upper shadow than the lower shadow, still under pressure from the BBI, with both the middle and lower bands trending downward. On the 4-hour level, the price tested the upper band resistance before pulling back, currently testing the middle support level, keeping a high short bias for the day.
The resistance above is at 112500 and 113500. If there is a rebound approaching here, participate in shorts. Alternatively, pay attention to the support below at 110000. If it breaks below 110000, consider chasing the shorts down to 108000 and 107000.
The Ethereum weekly candlestick chart shows three consecutive bullish candles, with the price continuously rising against the upper Bollinger Band. This week opened below the upper band, but the upper band has not opened downward; it’s merely a sign of weakening bullish momentum, not as strong as before. The daily candlestick closed as a bullish doji star, with the price currently below the middle band. The MACD continues to show increasing bearish momentum, while the KDJ and RSI are oscillating downward. On the 4-hour chart, the price has retraced below the middle band, indicating a bearish outlook for the day.
The upper resistance is here at 4530 and 4630. Try to participate in a short position relying on this area. The lower targets to focus on are 4450, 4400, and 4300. #Gate 2025全球秋季校园招聘启动#
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8.29BTC/ETH market view:
The weekly price of Bitcoin tested the middle support level, and only a break below this support price can open up space downward. The daily candlestick formed a medium bullish line with a longer upper shadow than the lower shadow, still under pressure from the BBI, with both the middle and lower bands trending downward. On the 4-hour level, the price tested the upper band resistance before pulling back, currently testing the middle support level, keeping a high short bias for the day.
The resistance above is at 112500 and 113500. If there is a rebound approaching here, participate in shorts. Alternatively, pay attention to the support below at 110000. If it breaks below 110000, consider chasing the shorts down to 108000 and 107000.
The Ethereum weekly candlestick chart shows three consecutive bullish candles, with the price continuously rising against the upper Bollinger Band. This week opened below the upper band, but the upper band has not opened downward; it’s merely a sign of weakening bullish momentum, not as strong as before. The daily candlestick closed as a bullish doji star, with the price currently below the middle band. The MACD continues to show increasing bearish momentum, while the KDJ and RSI are oscillating downward. On the 4-hour chart, the price has retraced below the middle band, indicating a bearish outlook for the day.
The upper resistance is here at 4530 and 4630. Try to participate in a short position relying on this area. The lower targets to focus on are 4450, 4400, and 4300. #Gate 2025全球秋季校园招聘启动#