Evening Analysis on October 8
Reviewing the day, Bitcoin presented a 'surge and stabilize' trend, starting from the 116300 line in the morning, reaching a peak of around 118800 before momentum paused, falling back to around 117400 entering a consolidation phase, with short-term fluctuations forming a game at the resistance level.
From the hourly Bollinger Bands structure, the current trajectory shows an 'upward attacking opening' characteristic: the upper band and the middle band continue to diverge with an upward slope, indicating that short-term bullish momentum is still being released, and the overall market remains strong; while the lower band simultaneously extends downward, reflecting that the downward support adjusts dynamically as the center of gravity shifts upward, with some limitations on short-term upward movements.
During the day, Bitcoin's surge closely followed the upper band and continued to drive the upper band to expand upwards, indicating that the bullish momentum dominates in the short term, with a clear intention to push Bitcoin to break upwards along the trajectory.
Therefore
Bitcoin can be arranged in the range of 117800-117000
with a target around 118800-119500
Ethereum can be arranged in the range of 4180-4140
with a target around 4280-4380
