Morning Analysis on August 21
The Bitcoin started to rise around 113100, with bulls pushing the price up to a maximum of 114777, before retreating and fluctuating around 114000.
From a technical analysis perspective, the four-hour chart shows a bullish momentum forming a doji pattern, with key resistance to watch around 114800; although the hourly level continues an upward trend, trading volume has shrunk and the candlestick closed bearish, with short-term support around 113700.
Trading suggestion: Buy Bitcoin on dips to the range of 113500-113000, targeting 114800-115400, and if it breaks through, continue to look for further upside.
