8.12 Midday Analysis
Reviewing the morning, Bitcoin maintained a narrow range oscillation between 118000-119300, with short-term trading stuck in a stalemate.
From the hourly Bollinger Bands perspective, the upper band and middle band continue to tilt downward, indicating that the trend framework remains unchanged; the lower band has turned horizontal, suggesting that short-term support at 118000 is beginning to emerge.
Dian Wei is continuously operating between the middle band and the lower band, being restricted by the middle band and facing resistance while temporarily supported by the lower band. Therefore, within this range, it is advisable to trade cautiously.
Bitcoin can trade around the 119300-120000 range.
The target can be around the 118300-117800 range.
Once reached, it can be reversed.
Ethereum can trade around the 4330-4380 range.
The target can be around the 4220-4170 range.
Once reached, it can be reversed.
