8.22 Morning Silk Road
After pulling back to the 112000 level, it was met with resistance and did not provide a continuation action. Subsequently, there was a slight rebound of a few hundred points.
Looking at the four-hour level first, the market has been slowly declining after a series of consecutive bearish days. Although the current rebound strength seems to be quite slow, this is also a good sign. It has already shown a turning tendency, and there is hope for further upward movement. After a V-shaped trend, the price is still running at a high level, and the pullback is just a normal corrective trend.
For Bitcoin, the support is at 110500, with a target of 114000; if broken, the next target is 117500.
For Ethereum, the support is at 4100, with a target of 4300; if broken, the next target is 4500.
