8.20 Zhiming Afternoon Analysis and Suggestions
From the current market perspective, the four-hour structure of Bitcoin has reached the end of the three-wave pattern, and the bearish momentum has slowed down. It is necessary to be cautious and pay attention to the breakthrough and stability of the range. On the hourly chart, the price has touched the lower bound and is converging, forming a narrow range of fluctuations with alternating buying and selling pressure. The support below has been repeatedly tested without significant breakdown. Therefore, in conjunction with the smaller time frame patterns, Zhiming suggests that the afternoon operations should primarily focus on the pullback buying strategy.
Zhiming Suggestions
Bitcoin around 113000-112500, look for 114500-115000
Ethereum around 4130-4100, look for 4200-4250
