8.21 Summary of Yesterday and Thoughts for Early Today

Yesterday's performance was mediocre, but we did achieve some key points. The evening went well as I led two teammates in a short-term trade, which we executed smoothly. Uncle Zhang won't elaborate much here; everyone can see the results, and those who can follow along to profit should do so.

In the 4-hour technical analysis of Bitcoin, the Bollinger Bands are showing a converging pattern of "upper band pressure, middle band dragging, lower band supporting." The price has been long trapped in a narrow range of oscillation between the middle and lower bands. The short-term moving averages are also diverging downward, forming additional pressure with the middle band of the Bollinger Bands. The rebound candlesticks are mostly small bullish candles, and the trading volume is simultaneously shrinking, reflecting weak buying interest. Overall, during the pullback, the bearish candles have not significantly narrowed, indicating that the selling pressure is still being released. More critically, the price has not broken through the recent downward trend line; the rebound high points continue to decline. Although the lower band is temporarily providing support, there is no golden cross formed in the moving averages, and there has been no explosive increase in volume, indicating a lack of trend reversal signals. Therefore, in the short term, the trend is still dominated by the bearish sentiment. If the lower band support fails, there may be further downward space. Conversely, if the upper resistance level is effectively broken, it could signal a reversal, so everyone, please manage your stop-losses and prepare for battle again.

Short-term suggestions:

Bitcoin can be traded around 114200 with a target near 112000,

Ethereum can be traded around 4360 with a target near 4200 $BTC #美联储7月会议纪要 $ETH