8.5 Tuesday Evening Thoughts

From the daily chart perspective, the daily line currently presents a lower shadow limit up pattern, which also shows that the bulls are in control. Although the bears appear fierce, the trend is still upward; looking at the four-hour chart, the Bollinger Bands are opening wider, indicating that market volatility is increasing, and the competition between bulls and bears has entered a heated phase. After a downward break of the lower band in the afternoon, there was an effective rebound and rise, breaking through the middle band and stabilizing. This trend reflects that the price has effective support at the lower band, and it is expected that a short-term accumulation phase is needed before breaking through. Combined with the evening US stock market correlation, the bulls are likely to initiate a new upward attack.

Buy Bitcoin at 114000-113800, target around 115800; buy Ethereum at 3640-3620, target around 3760. #BTC