8.19 Zhiming Midnight Analysis and Suggestions
Looking at the price chart, from the 4-hour cycle perspective, the price has begun a continuous decline from the previous high point. After the bearish trend was established, the downward process exhibited significant fluidity and strong momentum. Recently, after the price dipped to around 114605, although there was a brief rebound, the rebound was weak, leaning more towards a phased correction in the bearish dominant pattern, without constituting a substantial reversal of the overall downward rhythm.
Overall, the current price fluctuations are still within the framework of the continuation of the bearish trend, and the brief rebound adjustment has not changed the core trajectory of the trend's operation. We still need to be cautious of the downward pressure brought by the release of bearish forces.
Zhiming Suggestions
Bitcoin around 117000-117500, looking at 116000-115500
Ether around 4400-4450, looking at 4320-4270
