8.16 Morning Market Analysis

On the evening of 8.15, Bitcoin continued its range-bound oscillation, with limited volatility, dipping to a low of 116736 and rebounding to around 117859, with a fluctuation space of about 1000 points during this period. The performance of Ethereum is similar, rebounding to the 4489 line at its highest and retreating to around 4360 at its lowest. Currently, it is the weekend, and the market is entering a regular correction phase, which may further intensify the oscillation pattern, with both bulls and bears likely to fall into a tug-of-war situation.

From the current market observation, the four-hour chart shows that after two consecutive bearish candles, there was a rebound, but the bullish candle's body is relatively small, and there is a long upper shadow, indicating some selling pressure above; the KDJ indicator's three lines are turning upward and gradually converging, showing that the current bullish and bearish forces are relatively balanced. On the hourly chart, the market is hovering between the middle and lower Bollinger Bands, with both bulls and bears lacking momentum in the short term. Although the price has repeatedly tested key positions, it has not been able to achieve an effective breakthrough.