8/17 Early Morning Mainstream Coin Analysis
From the current technical analysis of the market, the 4-hour K-line shows a typical oscillation recovery pattern, and the market is undergoing a process of re-accumulating bullish and bearish forces.
Due to the significant reduction in trading volume over the weekend, the price fluctuation space has been compressed into a narrow range. This sideways consolidation has lasted nearly 24 hours, forming a standard rectangular consolidation pattern. During the early morning period, we continue to maintain a bearish strategy on the rebound, and the true directional choice of the market still needs to wait for the performance after the opening next week.
Bitcoin: Short near 117800-118000 with a target of 117000
Ethereum: Short near 4440-4460 with a target of 4350
