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September 5 BTC ETH midday thoughts
Daily level: Although the MACD is still above the zero line, the red bars are gradually shrinking, indicating that bullish momentum is waning, and the market's upward strength is clearly insufficient, so be cautious of a potential reversal.
4-hour level: The price hovers near the previous low, and the narrow fluctuations fail to conceal the weakness, with the support level precarious; the MACD negative bars continue, and the DIF and DEA are persistently declining, indicating significant bearish pressure, with the short-term trend still weak.
Hourly level: The price is firmly pressed below the middle band of the Bollinger Bands, with the middle band turning downwards, and short-term bears controlling the rhythm; in recent candlesticks, shadows loom, with bears holding the dominant advantage. Although there are occasional signs of a rebound, it is difficult to change the overall downward pattern.
Personal suggestion
BTC: Short around 111500-112200, target 109400, if it breaks, watch for 108000!
ETH: Short near 4330-4350, target 4250, if it breaks down look at 4100!