Morning Analysis for 8/5:
On the 4-hour chart of Bitcoin, the lower band of the Bollinger Bands has accurately supported the previous low, forming a double bottom pattern, indicating that the bearish momentum is accelerating exhaustion in the strong support zone; the price has effectively stayed above the middle band, breaking the previous downward channel constraints, and the selling pressure during the pullback to the middle band is limited, confirming the bullish accumulation rhythm, with consensus shifting from 'bearish on breakout' to 'bullish on stabilization'. The trend switch signal has appeared, with a bullish bias prevailing.
Trading Suggestions:
Long at 114300-114500, target 116000-117000, stop loss at 114000
For Ethereum: Long at 3650-3680, target 3800-3850, stop loss at 3620
(The market is ever-changing, for reference only!)
