8.15 Market Analysis:
From the hourly technical pattern, the current middle and upper bands of the Bollinger Bands are still trending downward, constituting short-term bearish pressure, indicating that the rebound momentum has not completely reversed the downtrend, and the upper space is temporarily limited. However, it is worth noting that the lower band shows a slight upward turn and diverges from the middle and upper bands—this divergence phenomenon usually suggests that the previous oversold pressure is easing, support effects around 117500 are starting to show, and after continuous bearish selling, the strength is weakening, with an increasing willingness to buy at lower levels.
In terms of operations, one can attempt to buy low based on key support levels: Bitcoin should focus on the 118000-117500 range, as this area is both the initial support zone after the lower band turns up and a defensive level that the bears have continuously tested without breaking. If it can hold, there is hope to launch an assault towards the 120000 round number; for Ethereum, positioning around 4600 is advised, as this is both the lower edge of the previous consolidation platform and aligns with the logic of support rising after the lower band turns up, targeting around 4700. It is necessary to observe whether the middle band pressure can be effectively broken during the rebound process to confirm whether the short-term trend has truly reversed.
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