8.19 Zhiming Evening Analysis and Suggestions
From a technical perspective, on the four-hour level, after a price surge, it has been gradually declining. Although it has not strongly turned bearish, it is testing lower points step by step. The current pattern shows a certain demand for contraction, and it has not reached a strong bearish state. The short time frame maintains a pattern of retreating after each advance; it is not advisable to chase either long or short positions.
On the one-hour level, the operating channel has formed a flat state, with prices declining. After hitting a bottom, it has formed a gradual oscillation and repair, with a clear effect of long and short conversion. Although the overall direction has surged and retreated, the impact of short-term oscillation is strong, making it difficult to form a one-sided continuation. Under the rhythm of oscillation and decline, there is still a testing of lower points.
Zhiming's Suggestions
Bitcoin 115800-116300 range, watch 115000-114000 range
Ethereum 4330-4380 range, watch 4270-4220 range
