Morning Thoughts on August 27

Bitcoin has shown strong performance, successfully breaking through the middle and upper bands of the Bollinger Bands, and it has risen for six consecutive days, indicating a clear trend reversal. We noticed that the short-term upper and middle bands of the Bollinger Bands have now become support levels, which means that a reversal in the short-term trend may occur.

Currently, the price is above the upper band of the Bollinger Bands and has not yet retraced, showing strong bullish momentum. Although the trading volume has not completely kept up, it has broken through a key resistance area, and this logic is already evident. If the price can later retrace to the middle band and maintain stability, there is great hope for further upward movement, and the overall short-term trend leans towards bullish.

It is recommended to pay attention to price fluctuations between 111,000 and 110,600, with a target set at 113,000 to see if a new high can be achieved. $BTC #比特币远古巨鲸持续出清 #ETH创历史新高