Early this morning, the encryption currency market experienced a period of calm fluctuations. Although an important figure spoke at 4:30 AM, it did not have a significant impact on the market. Let's analyze the future direction of the market in depth.



From the 4-hour chart, although the upward signals are not strong, both the technical indicators and the candlestick chart show a slight downward trend. However, we can still maintain a cautiously optimistic attitude and consider positioning during pullbacks.

In the short term, the hourly chart shows that the shrinking trading volume has led to price fluctuations and a downward trend, with the market entering a tug-of-war state and the candlestick chart displaying a doji pattern. It is expected that the market may experience further corrections before continuing to rise.

For Bitcoin, it is recommended to pay attention to the pullback opportunities in the range of 114,300 to 113,800, with an upward target set around 115,700 to 116,700. Regarding Ethereum, one can focus on the pullback range of 3,620 to 3,640, with an upward target near 3,730 to 3,780.

It is worth noting that market trends are changing rapidly, and investors should closely monitor real-time market conditions and manage risks appropriately. At the same time, be wary of potential sudden events that may impact the market. Before making any investment decisions, it is recommended to conduct thorough research and analysis.
BTC0.23%
ETH4.37%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
SelfSovereignStevevip
· 6h ago
The rhythm of the big fluctuations is exhausting to watch.
View OriginalReply0
WalletManagervip
· 08-07 04:38
On-chain data has already hinted at this opportunity.
View OriginalReply0
DeFiAlchemistvip
· 08-07 00:50
*adjusts mystical charts* the sacred numerology reveals an inefficient yield transmutation pattern... preparing my risk-adjusted enchantments for 114.3k support
Reply0
ColdWalletGuardianvip
· 08-07 00:48
Sigh, the coin market is like this; just endure and it will pass.
View OriginalReply0
0xInsomniavip
· 08-07 00:38
enter a position and it's done
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)