8.21 Zhiming Morning Analysis and Suggestions
From the daily level observation, the previous bearish dominance pattern of Bitcoin is showing significant loosening, and the price trend has revealed clear signs of turning upwards, with initial signals of trend reversal appearing. Looking back at yesterday's market, it demonstrated strong rebound resilience. In the afternoon, after the price quickly stabilized and rebounded upon reaching the key support level of 112301, it then oscillated around the integer mark of 114000, laying the foundation for further upward movement. The four-hour cycle chart captures the positive changes in the short-term market more clearly: Bitcoin gained strong support near the lower Bollinger Band at 112301, showing a stepwise oscillating upward trend. In terms of technical indicators, the MACD successfully formed a golden cross above the zero axis, and the red bullish energy bars continue to grow, indicating that short-term bullish momentum is accelerating. The current price is steadily advancing along the rising channel, with the primary target pointing towards the middle Bollinger Band area at 116000, and the short-term upward trend is expected to continue.
Zhiming's Suggestions
Bitcoin around 114000-113500, look for 115000-115500
Ethereum around 4300-4260, look for 4380-4420
