8.21 Evening Bitcoin Market Analysis

From the hourly chart, Bitcoin is continuously testing the pressure of the middle Bollinger band,

but there is no significant breakthrough. It is still oscillating around the middle and lower bands, and there has been an attempt to break the support at the lower band of 112700.

Due to insufficient bearish momentum, the breakout was not successful, and the hourly chart currently shows signs of a bearish close.

Therefore, we maintain the afternoon strategy and continue to be bullish.

Bitcoin is oscillating around 112300-112700, with a target towards 114800.

The medium to long-term target is 117000.