Bitcoin Ethereum Midday Market Analysis 9.5
The current daily level for Bitcoin shows recent price fluctuations at a high level. After a large bullish candle appeared on September 2, there were slight pullbacks for two consecutive days. Today, it rebounded again, forming a long upper shadow, indicating strong resistance above. At the 4-hour level, the price quickly surged from around 109800 to about 111765 before entering a consolidation phase. The current candlestick pattern shows multiple highs and pullbacks, indicating some selling pressure in the short term. The MACD 4-hour histogram is gradually shortening, with the fast and slow lines below the zero axis showing signs of convergence, indicating weakening momentum. The daily MACD is still in the positive area, but the red histogram has contracted, requiring attention to whether it will turn into a death cross. It is recommended to short at high levels today.
Operation suggestion: Short Bitcoin around 111800 to 112300, with a target near 109500.
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