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August 6th evening BTC ETH market analysis and trading strategy
Currently, the market shows a high-level fluctuation on the daily chart, with a long upper shadow on August 4, indicating strong selling pressure. Today's closing price is lower than yesterday's, showing signs of a pullback.
On the hourly chart, the price has gradually declined from the morning high of around 3720 and is currently at around 3672, with short-term support but a weak bias. The RSI on the hourly chart is at 59.63, nearing neutral, with weakened momentum; the daily RSI has pulled back from the overbought zone to normal. The hourly EMA7 is close to the current price, which may provide short-term support, while EMA30 and EMA120 serve as lower support references. In the hourly MACD, both DIF and DEA are negative, with the histogram consistently showing bearish bars, slightly favoring the bears; however, the daily MACD is still above the zero line, and the bullish trend has not fully broken.
In the evening, it is recommended to continue with the trading strategy of buying on dips.
BTC: 113600-113200 range Target: 11580-16500
ETH: 3600-3570 range Target: 3680-3750