Evening Analysis on August 24
Reviewing the day, Bitcoin dropped from the 115700 level to around 114600, then entered a phase of oscillation and consolidation.
From the hourly Bollinger Bands perspective, the current channel is continuing to narrow, reflecting a decrease in short-term market volatility, with both bulls and bears temporarily caught in a state of balanced power dynamics, leading to a gradual compression of market movements.
Meanwhile, the price movement is continuously being suppressed by the middle band, indicating that the current market is still under pressure in the short term, and bullish momentum has not been effectively released.
Therefore
Bitcoin may wait for a rebound, focusing around 114400, 113800 for
↑ looking at 115500-116200 range
Ethereum may wait for a rebound, focusing around 4730, 4680 for
↑ looking at 4820-4880 range
