8.25 Zhiming Evening Analysis and Suggestions
Looking back, the afternoon Bitcoin continued its bearish trend and continued to decline, with the lowest point during the session touching the 111012 line before temporarily stabilizing. The Ethereum trend synchronized closely with Bitcoin, also declining to the low point of the 4522 line. The bearish strategy we proposed in the afternoon was once again validated by the market.
Looking at the chart, the 4-hour line broke below the middle Bollinger Band support, and the upper band has begun to show a turning trend. This wave of decline is fierce, and there are quite a few positions trapped above. Unless there is significant news tonight, it will be difficult to achieve a V-shaped reversal, and we will continue to watch for a rebound above 4650.
Zhiming's Suggestions
Bitcoin around 111700-112200, look for support around 111000-110500
Ethereum around 4660-4700, look for support around 4580-4540
