8.21 Zhiming Afternoon Analysis and Recommendations
Looking at Bitcoin, the daily chart continues the upward trend from yesterday with a bullish candle, showing two consecutive bullish candles that have continued to gain momentum. It has formed a strong support around the previous low, creating a double bottom. The momentum is relying on the support to convert into power, pushing the price higher for a second time. On the four-hour structure, the price has interwoven to the middle track and formed a two consecutive doji candle pattern for consolidation. The market is not showing a strong unilateral structure, but the signs of bottoming are solid and prominent. In the afternoon, it is recommended to primarily focus on a pullback buying strategy.
Zhiming's Recommendations
Bitcoin near 113500-113000, look for 114500-115000
Ethereum near 4260-4220, look for 4340-4380
