Blockchain Liangqiu: Analysis of Bitcoin/Ethereum intraday market trend on August 12
After Bitcoin/Ethereum rose in the morning yesterday, it reversed again in the evening, and the decline was relatively large. The lowest price of Bitcoin reached around 58078, and Ethereum even reached 2506. Bitcoin K-line shows obvious volatility and wide fluctuations. The price has fluctuated at a high level in recent days. At the same time, the closing price has been lower than the opening price for two consecutive days, and it has fallen back after rising to form a small negative line. In terms of technical indicators, MACD, DIF and DEA are all negative and continue to decline. The MACD histogram is also in the negative area, indicating that the market is in a short trend, but the gap between DIF and DEA has narrowed in recent days, which may indicate that the short force has weakened.
The current market is hovering around the 7-day moving average. At present, it depends on whether it can form effective support. The low point focuses on the first-line support of the low point in the early trading decline. If it is not broken, there will be a rebound demand.
In terms of operation, long orders are placed near 58000 to 58300, with a target of 59800 and a stop loss of 57500; long orders are placed near 2510 to 2530 for Ethereum, with a target of 2600 and a stop loss of 2470. The market fluctuates greatly, so real-time guidance is the main focus.
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