8.18 Morning Market Analysis by Big Cake Aunt
The market for the first working day of this week is gradually emerging. This morning, after the ETH experienced a downward fluctuation and correction yesterday, it has also welcomed a wave of upward movement, as has BTC.
From a short-term perspective, looking at the hourly chart, after a downward spike in the early morning, the price has now shown a certain degree of correction, with the K-line presenting consecutive green bars. From a technical standpoint, after this morning’s upward movement, the current bullish momentum seems to have temporarily exhausted. The price remains in a state of fluctuation near the middle band of the Bollinger Bands, without breaking through the previous high. It is speculated that there will be a wave of retracement before another upward movement!
Big Cake can be traded around: 117100-116700, target 118700-119700
Aunt can be traded around: 4450-4380, target 4500-4550
