8.10 Evening Analysis of Bitcoin

Recent market changes have been quite significant, with altcoins experiencing a phase of rising and then showing divergence, while some funds have begun to flow back into Bitcoin. As the dominant asset in the market, Bitcoin's price has been steadily advancing at high levels, with strong buying support.

The 4-hour Bollinger Bands are continuously expanding, indicating good trend continuity, and there are no signs of weakening bullish momentum. However, the overall market liquidity has not significantly increased, and the market still shows a slow bullish rhythm, which means that even if the direction is bullish, it is not advisable to blindly chase high prices, but rather to wait for opportunities to enter at lower levels after a price pullback.

Trading Suggestions:

Consider positioning long orders at pullbacks of 117600 and 117000, with the first target at 119000. If it breaks and stabilizes above, the space is expected to open up to 120000.

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