August 23 Trading View:

Looking back at the morning market on August 23, Bitcoin retreated from around 117,000, adjusting to around 115,400, with the short-term upward momentum slowing down.

From the hourly Bollinger Bands perspective, the current channel is continuing to flatten, which directly reflects that short-term bullish and bearish momentum is becoming balanced, and the market is in a consolidation phase. At the same time, during the price pullback, it is gradually approaching the middle band of the Bollinger Bands, indicating that the profit-taking pressure accumulated after the previous highs has been somewhat released, and the market is momentarily in a balance period of bullish and bearish contention.

Based on the current market situation, the midday trading strategy recommendations are as follows:

For Bitcoin, wait for further price pullback, planning long positions around the support levels of 115,300 and 114,800, with a target range looking towards 116,400-117,200.

For Ethereum, also wait for a pullback opportunity, considering going long around 4,670 and 4,620, with a target range focusing on 4,800-4,880.