Evening Analysis on 8.8
Reviewing the afternoon, the major asset oscillated within the range of 116300-117000, undergoing narrow consolidation, with volatility continuously narrowing, and both sides temporarily trapped in balance.
From the hourly Bollinger Bands perspective, the current three lines show a parallel horizontal extension, indicating that the short-term volatility is compressed, and the market is in a typical consolidation period. This pattern suggests that the power struggle between bulls and bears has entered a stalemate phase, with trend momentum temporarily exhausted.
Meanwhile, the asset has consistently operated close to the middle band ↓. This reflects that the current short-term bullish momentum is slightly insufficient, and market sentiment leans towards caution. However, it should be noted that in a narrow oscillation pattern, the single condition of operating near the middle band is not sufficient to confirm a trend reversal, more so reflecting weak consolidation characteristics within the range.
Therefore,
The major asset can be positioned near the range of 115800-115000
With a target around 117000-118200
The secondary asset can be positioned near the range of 3850-3800
With a target around 3950-4000
