August 20 midday Bitcoin Ethereum market analysis and trading strategy



The daily chart shows that the recent price quickly rebounded from the low of 4223 on the 12th to the high of 4576 on the 17th, followed by a consecutive decline, currently forming a震荡下行趋势. The hourly chart has shown a clear downward channel from last night to this midday, with highs gradually decreasing and lows continuously refreshing. The MACD on the hourly chart shows both DIF and DEA below the zero axis, and DIF is continuously diverging downward, indicating strong bearish momentum; the daily MACD green bars have shortened, but no golden cross signals have appeared yet. The hourly RSI is at 40, close to the oversold range, indicating a potential technical rebound demand in the short term; the daily RSI remains in a neutral to weak area. The hourly EMA7:4129 has fallen below.
EMA30:4204, and far from EMA120:4339, short-term and mid-term trends are bearish; daily EMA arrangement still favors bears.
Ethereum: short around 4180-4220, target near 4080 Bitcoin: short around 113800-114000, target near 112500
$BTC
{future}(BTCUSDT)
$ETH
{future}(ETHUSDT)
BTC-0.42%
ETH-0.33%
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