8.20 Early Morning Analysis
Bitcoin can be in the range of 114100-114700
Target can be seen around 112800-111800
Ethereum can be in the range of 4230-4270
Target can be seen around 4130-4070
Looking back at the evening, Bitcoin once again ↓ after ending the consolidation range, hitting a low of 113000, continuing the recent adjustment rhythm, with the bearish characteristics further emerging.
From the hourly Bollinger Bands perspective, the current opening continues to expand, with all three lines forming a synchronized downward divergence pattern, which intuitively reflects the significant increase in short-term market volatility, and the downward trend structure is further reinforced.
After Dian Wei continuously 📉 broke below the support, there has not been an effective rebound, remaining under pressure and running below the lower band, which further drives the lower band to extend downward passively. This pattern not only reflects that the momentum release rhythm has not diminished but also indicates that the short-term downward inertia is still continuing, with no clear signs of stabilization in the market yet.
