8.6 Morning Analysis

Last night, Bitcoin was blocked around 115100, dropping all the way down to around 112600 where it stabilized, and then slowly recovered.

From the hourly chart, the lower boundary is moving sideways, indicating that the defense line at 112600 is still quite strong. The bears were unable to pull the lower boundary down further, and we have not yet seen extremely weak signals. In contrast, the upper boundary and the middle boundary are slightly declining, suggesting that the strength of the bulls' rebound has not been fully released yet, and overall it is still considered a weak consolidation. The good news is that after the bulls' recovery, they can operate around the middle boundary, proving that the upward momentum is still present.

Therefore, today’s trading strategy:

For Bitcoin, consider going long in the range of 113000-112500, with an initial target of 114000-114700.

For Ethereum, also consider going long in the range of 3530-3480, with a target of 3620-3670. $BTC $ETH #香港稳定币新规 #加密股IPO季 #美股代币化