August 6 Market Analysis Strategy

Looking back, the Bitcoin market showed a fluctuating upward trend in the early morning. The price gradually climbed from a low point near 112625, continuously probing higher, reaching a peak of around 113947 before the upward momentum temporarily stalled.

In contrast, Ethereum's market trend was entirely different; after the price retreated to a low of around 3544 in the morning, it stopped falling and stabilized, showing a slight rebound, with the highest point reaching around 3610.

From the current market observation, the four-hour level shows a steady upward trend, with prices gradually approaching the upper Bollinger Band. Although there was a slight bearish pullback during this period, its strength was weak and failed to reverse the overall upward trend. Currently, bullish momentum continues to be released, with the trend clearly dominated by bulls. Looking at the hourly level, the market has shown two consecutive bullish candles.

After probing higher, it encountered overhead resistance and retreated, but the Bollinger Band maintains an upward opening shape, with the middle line also moving upward. The MACD indicator's dual lines formed a golden cross and continue to extend upward, with bullish signals still strengthening. Overall, the morning operation suggests focusing on a low long strategy after the pullback.

Bitcoin: Targets around 115000 near 113500-114000

Ethereum: Targets around 3650-3680 near 3580