8.18 Morning Analysis
Currently, Bitcoin is oscillating near the lower Bollinger Band, intermittently testing and impacting the resistance level of the middle band. Previously, the Bollinger Bands were in a parallel state, but now they are gradually opening up, indicating that the market is accumulating momentum, and a potential breakout may not be far away.
The market is repeatedly adjusting above the zero line, with many bullish candles showing solid bodies, indicating that the buyers still hold the upper hand, and upward momentum continues to exist. However, it is important to note that the fast and slow lines have formed a closing death cross below the zero line, which indirectly reflects that the current accumulation process is quite sufficient, laying the foundation for a strong explosion of momentum in the future, increasing the likelihood of a short-term breakout.
Suggestions
Bitcoin can be traded around 116500-117000, aiming for 119000
Altcoin can be traded around 4400-4430, aiming for 4600
