August 8 Market Analysis:

In the morning, Bitcoin first experienced a downturn, reaching a low of around 114200, before starting a steady upward trend, successfully breaking through 116500 and reaching a high of around 116700. Subsequently, a pullback occurred, and in the afternoon, the market showed a stepwise upward trend. As of now, the highest remains around 116700, with a low of around 114200. The current market is fluctuating around 116400. The Ethereum long position suggested last night also successfully reached the target level; I believe friends following this article have gained well.

From a technical perspective, Bitcoin's daily chart shows a bullish candlestick near 115000, with the Bollinger Bands continuing to open downward. The MACD lines are still trending downwards, and bearish volume is continuously shrinking. The KDJ has started to trend upwards. The 4-hour chart shows the Bollinger Bands running flat, with the MACD lines continuing to trend upwards and bullish volume steadily increasing. The KDJ lines are also moving upwards, and the daily technical indicators show that KDJ is still in an oscillating upward state, with MACD showing bullish volume increasing. The BOLL indicators are operating in the upper band area, and currently, the coin price has stabilized in the middle band area. Meanwhile, the five-day and ten-day moving averages of Ethereum are resonating upwards, and the coin price has also successfully stabilized above the ten-day moving average. Regarding Ethereum, the daily chart shows a bullish candlestick around 3680, with the Bollinger Bands continuing to narrow upwards. The MACD lines continue to trend downwards, and bearish volume is continuously shrinking. The KDJ lines have started to trend upwards. The 4-hour chart shows the Bollinger Bands continuing to narrow upwards, with the MACD lines trending upwards and bullish volume slightly increasing. The KDJ lines are moving upwards, and attention should first be paid to the resistance around the upper 4-hour band and the 60-day moving average. If broken, then focus on the resistance around 117000, while continuing to monitor the lower 4-hour band.

Bitcoin: Short around 117300-117800, target 115500-115000.

Ethereum: Short around 3850-3870, target: 3800-3770.

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