August 22 Morning Bitcoin and Ethereum Market Analysis

Looking back at the early morning market, Bitcoin stopped its downward movement after pulling back to around the 112000 mark, and there was no continuation of the decline, followed by a slight rebound of a few hundred points. Ethereum mainly fluctuated, reaching a high of around 4273.

From the four-hour perspective, after a series of consecutive bearish candles and a slow downward movement, the candlestick turned bullish. Although the rebound strength is relatively slow at the moment, this is already a positive signal, as the candlestick shows signs of turning. There is potential for an upward trend in the future. After experiencing a V-shaped trend, the candlestick remains at a high level, and the pullback is just a normal trend correction. In terms of the current structure, the four-hour level has the energy to make another upward push. After a series of winding consolidations and accumulation of strength, with the lows gradually rising, it is currently waiting for a breakout opportunity. The current candlestick has once again entered a state of fluctuation, and the market just needs to wait for the trend to become clear, still focusing on a low buy strategy.

Bitcoin can be bought around 112000-111300, with a target of 113700-115800;

Ethereum can be bought around 4200-4170, with a target of 4280-4380.