Morning Market Analysis and Trading Suggestions for 8.23

Last night's market experienced a strong surge, and the current bullish momentum shows signs of marginal slowdown, entering an overall phase of range-bound consolidation to digest the profits brought by the previous rapid rise.

From the hourly Bollinger Bands indicator, the previous strong breakout above the upper band and departure from the channel has undergone a transformation. Currently, the price is gradually retracing back into the Bollinger Bands channel and slowly approaching the middle band position. This trend reflects the demand for momentum digestion after the previous sharp rise and also suggests that there may be some space for correction in the short term, but there has not yet been a signal of a bearish reversal dominating the market.

Based on the analysis above, the trading suggestion for this morning is to focus on buying on dips, with specific levels as follows:

Bitcoin: Range of 115800-116300 for long positions, with a target around 118000.

Ethereum: Range of 4750-4780 for long positions, with a target around 4950.#杰克逊霍尔会议