8.20 Early Morning Big Cake Silk Road
From the current market observation, the recent trend has rebounded after breaking the new high on the 14th, and it has once again retraced to the gap below, with the current support level located around 111800. If this position can hold, there is still a chance to continue the bullish trend. However, if it breaks below, further attention needs to be paid to the 108000 level.
From the analysis of the four-hour level chart, the middle track of the Bollinger Bands faced pressure, and the price rapidly fell back, with the lower track continuously extending downwards. The MACD bearish energy bars are in a shrinking state, and the position at 111800 is also a recent strong rebound point.
Can look towards 111800-112300 range, targeting 115000-116000 range
