Sideways Movement in BTC and ETH: A Short-Term Peak?
Zhou Yueying, a trend analysis expert, shares her insights on the current market movement of Bitcoin and Ethereum.
In her latest analysis, Yueying notes that the recent sideways movement in both cryptocurrencies could be a sign of a short-term peak. On the daily chart for BTC, she observes mild upward movement and consolidation around 77,000, with Bollinger Bands opening upwards and short-term moving averages aligned higher.
The MACD fast and slow lines are trending down, while KDJ extends downward, indicating potential support around the 50 level. On the 4-hour chart, Yueying sees narrow range consolidation above the 7-period average, currently around 78,000, with Bollinger Bands flat and short-term moving averages slightly upward.
For Ethereum, its technical trend remains correlated with BTC, with a retracement matching expectations without breaking below the 2,400 mark. Yueying advises relying on this support for short-term entry and paying attention to resistance near the previous high.
In terms of strategy, Yueying suggests going long at 77,500 for BTC and 2,418 for Ethereum, but warns against chasing blindly if there is another surge to break new highs.