BTC has been fluctuating and consolidating in the range of 26100 to 26500U for 11 consecutive days. In this environment of insufficient new liquidity, it is wishful thinking to expect a big bull market to return. Some of the local hot spots that have appeared recently are all manipulated speculation by the main funds using limited funds, which are not continuous.
In the near future, BTC will most likely fall below 26,000U, which is an opportunity to build positions in batches. This year, there is a high probability that BTC will reach 25,000 or even lower. Watch and wait, prepare your bullets, and get on board at any time!
8-29BTC intraday analysis
The overall intraday volatility of Bitcoin is not large. The price once again tested the 26200 area in the morning and then began to fall under pressure. It is currently fluctuating around 26000. The Bollinger Bands on the 4-hour chart began to close. In the short term, it is temporarily in a tug-of-war between the upper and lower rails. At present, there is still a certain range between the upper and lower rails. The support of the lower rail is still around the low point of 25700, and the upper rail is near the high point of yesterday. It is currently shrinking and fluctuating. The short-term unilateral volume is insufficient, and it will maintain a tug-of-war within the range. The operation is mainly ultra-short-term response, and high short orders can continue to be held.
8-29ETH intraday analysis
Ethereum also did not have much volatility during the day, and the price basically remained at 1650 and fluctuated within a range of ten points throughout the day. The 4-hour chart paused slightly downward due to the previous continuous weakness, but it did not increase in volume at the bottom, but instead went sideways after slowing down. There was a slight rebound yesterday. At least the current K-line pattern is not weak, even if it is falling. It is accompanied by a step-by-step approach. It is very easy to have a pullback K-line for correction. The Bollinger Bands began to close, and currently crossed the middle track to shrink and consolidate. The 1-hour chart fell and rebounded for the second time, still holding above the low point. The short-term low point is not lost, and it is temporarily in a sideways oscillation. The short-term thinking of the day is the same as that of the big cake, and it is treated as a shock, and it continues to participate in the high-altitude and low-multiple around the range. High short orders can continue to be held.
