August 22 Evening Thought Analysis
The Bitcoin price is fluctuating downwards, having touched 113936 and is now continuing to decline, currently hovering around 112278.
From an hourly perspective, the price is situated between the middle and lower bands of the Bollinger Bands, indicating a weak short-term trend. The moving average system shows a bearish arrangement, with the 7-day moving average suppressing the price downwards. The MACD indicator's green bars are continuously expanding, indicating that bearish strength is dominant. However, the KDJ indicator shows signs of a golden cross in the oversold area, which may trigger a short-term rebound.
Lightly position long orders near 112000 - 112200, with a stop loss set at 111700, and a target looking towards 112800 - 113200
