8.12 Thought Analysis

From the four-hour chart, after three consecutive bearish candles, the signs of a bottoming out are gradually becoming clearer. As the price stabilizes and rebounds, the bearish forces are noticeably diminishing, with multiple indicators simultaneously releasing positive signals. This indicates that the strength of the pullback after a short-term rise is significantly constrained, and the overall bullish structure remains intact. The current pullback is merely a normal adjustment in the upward process, representing a healthy accumulation phase.

Looking from the one-hour level, the market has begun a recovery trend with three consecutive bullish candles. Although there is some selling pressure at the middle band of the Bollinger Bands, temporarily restraining the upward momentum, it has not reversed the overall trend. The price continues to maintain a slow, stepwise upward pattern, although the pace of ascent is somewhat gradual.

In summary, the operational strategy for midnight focuses on low volatility, leaning towards placing long positions at the pullback support levels, which is more prudent in line with the current bullish main trend. The target for Bitcoin around 117900-118500 is set at 19500, 120600, and 121100 areas, with a breakthrough being sustainable upward; if not broken, consider trying a reversal.