September 8th morning Bitcoin Ethereum market analysis and trading strategy

Ethereum is consolidating in the daily price range of 4270-4500. A long upper shadow was previously seen at the high point of 4490, indicating heavy selling pressure above. In the 4-hour chart, the price of Ethereum has formed a slight rebound, but overall it is still in the corrective phase of a downward trend, with high points gradually moving lower. The MACD is below the zero axis; although there are signs of a golden cross, the strength is limited, and the bearish momentum has not fully diminished. Trading volume has increased, but it has not broken through key resistance levels, and the capital inflow is insufficient to drive a strong rally.

The short-term momentum of Bitcoin price has strengthened in the past hour, but it is also in a consolidation phase. The price is close to the resistance level but lacks volume support, which may lead to a pullback after a spike. Currently, it is in a low volatility range and is in a state of oscillation. The technical indicators show a slight increase in short-term momentum, with the price above the short-term moving averages and forming a bullish engulfing pattern. However, the trading volume is extremely low, constituting a high-risk signal of divergence between price and volume. Attention should be paid to the breakthrough of the key resistance level of 112500.

Ethereum: Buy at 4300-4280, target: 4350-4400

Bitcoin: Long near 11.1000, target: 11.2000-11.3000 #ETH# #BTC#