8.15 Summary of Yesterday and Thoughts for Early Today
Yesterday's market situation won't be elaborated too much, it can be described as a roller coaster. Uncle Zhang will briefly summarize yesterday's market conditions, focusing on the Bitcoin market. The Bitcoin market gained over 7500 points, and Ethereum gained over 360 points. Let's take a look at the chart.
In the early stages of chasing highs, there was a passionate entry around 124500, only to be stunned by a large bearish candle halfway up the mountain. Those looking to buy the dip were eager to try near the lower Bollinger Band, but as soon as they reached out, they were dragged into a deeper downtrend. Every weak rebound felt like a bait luring hope; just when the thought of 'it's about to reverse' sparked, the next K-line shattered that fantasy into pieces. Those holding positions gritted their teeth and dared not cut losses, while those in the market watched the drop with accelerated heartbeats, fearing to miss out. In the cycle of 'sell and it rises, buy and it falls,' patience was ground into anxiety, and confidence was nibbled into doubt. Despite closely monitoring the charts and calculating support and resistance, they still couldn't escape the fate of being toyed with by the market. This wave of decline smashed not only the price but also the tense psychological defenses of everyone involved.
In the 4-hour technical analysis of Bitcoin, the price is currently building a low-level platform around 117500. A series of small bullish candles combined with a decrease in volume during the downtrend and an increase in volume during rebounds reveal an intention to buy the dip under the guise of 'dark operations.' The moving average system previously dominated by Bitcoin has flattened and is showing signs of turning, resembling the prelude to a counterattack. After the lower Bollinger Band accurately supported the price, it rebounded and impacted the middle band. The previously expanding Bollinger Band is showing signs of convergence, indicating a decrease in downward momentum and an accumulation of rebound energy. Crucially, the K-line combination has shown the initial form of a 'stop-loss and rebound.' If it can break through the key resistance at 118500, the rebound will transition from 'signal germination' to 'trend establishment,' paving the way for a price recovery. However, it is still important to be cautious; everything should be based on actual market conditions!
Suggestions:
Bitcoin around 117400, target near 119500,
