8.27 Zhiming Morning Analysis and Suggestions
This week is a consolidation market; BTC is only suitable for high shorts to easily profit. The daily level trend still maintains a weak consolidation, and the intraday fluctuation range is continuously compressing. If it falls below the short-term support of 110,000 again, the market is expected to retreat to around 108,000.
From a technical perspective, the 4-hour trend shows that the current price rebound is approaching the middle track resistance, but it has not broken upwards again. If the rebound cannot continue for a long time, there is a risk that the intraday gains may be swallowed by bears again.
Zhiming suggests:
Bitcoin around 112,100-112,600, watch around 111,000-110,500
Ethereum around 4,640-4,680, watch around 4,560-4,520
