8.11 Evening Analysis
Reviewing the day, the Bitcoin experienced a strong rally, with the highest point reaching around 122400 before facing resistance and retracing. Currently, it is consolidating within the trading range.
From the hourly Bollinger Bands perspective, it is currently showing a clear "expanding bag" pattern, with all three lines maintaining an upward slope. Overall, it is in a typical upward trend structure.
In general, the upward opening of the bag shape and the performance near the middle line during the retracement still support the continuation of the short-term trend.
Therefore,
Bitcoin can be traded in the range of 120500-119800.
The target can be seen around the range of 122000-113000.
Ethereum can be traded in the range of 4190-4150.
The target can be seen around the range of 4300-4360.
