August 20 Evening Analysis

Bitcoin may trade around 113100-112500.

Expected to trade around 114700-115600.

Bitcoin may trade around 4150-4080.

Expected to trade around 4290-4380.

Looking back at the day, Bitcoin showed a pattern of reaching a low and then rebounding: it reached around 112500 in the morning before stabilizing and rebounding. It reached resistance at 114000 in the afternoon, entering a short-term consolidation phase.

From the hourly Bollinger Bands, the current opening of the band is shrinking, with the three bands aligned and flattening simultaneously, indicating a continued convergence of short-term volatility and a temporary range-bound market.

Bitcoin has broken through the middle band during its rebound and is currently trading along the upper and lower bands. Although there has been some short-term upward momentum, it is constrained by the Bollinger Bands' narrowing pattern and has yet to open. #加密市场回调 $BTC $ETH