8.22 Zhi Ming Midnight Analysis and Suggestions
From the current perspective, Bitcoin is once again testing lower as expected, with a bearish daily candle that completely retraced yesterday's gains. The moving averages have formed a death cross and are continuing to diverge downward, with a clear downward trend. From the four-hour level, the price shows five consecutive bearish candles with a fragmented retracement, and the one-way downward channel continues. The central point of oscillation is continuously moving downwards, while the downward momentum is steadily being released. Although the offensive has slowed down, the pace remains steady. Considering the hourly level, the market presents a wave-like structure continuing to dive, with a key focus on the slope of the previous low around 112000. At midnight, continue to look for opportunities to go long.
Zhi Ming's Suggestions
For Bitcoin, go long in the range of 112700-113000, and watch the 111500-111000 area.
For Ether, go long in the range of 4260-4300, and watch the 4180-4140 area.
