Morning Analysis on October 8th
Looking back at the night, Bitcoin presented a stair-step ↑ movement, with momentum gradually being released. During the morning period, it touched the resistance point of 117600, after which short-term momentum slightly converged, entering a phase of oscillation and consolidation.
From the hourly Bollinger Bands perspective, the upper band has shown signs of turning downwards, indicating that there is some pressure in the short-term upward movement, with resistance forming near the previous resistance point; while the lower band and middle band maintain an upward slope, with the middle band acting as a short-term trend support line that continues to rise, indicating that the mid-term upward structure has not been broken and the support on the downside is still strengthening. Overall, it appears to be in a state of balance with "short-term pressure and mid-term slight upward bias."
Therefore,
Bitcoin can be positioned in the range of 116300-115800 for a slight upward movement.
The target can be seen in the range of 117500-118200.
Ethereum can be positioned in the range of 3550-3500 for a slight upward movement.
The target can be seen in the range of 3950-4000.
