Morning Thoughts on 8/11:

The technical analysis of Bitcoin shows preliminary characteristics of an upward trend, but the extreme contraction in trading volume has created a clear divergence between volume and price, weakening the signal for the sustainability of the upward trend.

The bullish arrangement of the moving average system and the golden cross provide bullish technical support for the market, while the recent bullish engulfing pattern further strengthens the possibility of a short-term rebound. However, the price needs to break through the strong resistance level of 119800 to confirm further upward space; otherwise, it will fall into a correction.

Trading Suggestions:

Bitcoin: 119800-123000 range, target around 118200

Ethereum: 4330-4360 range, target around 4200, each with good risk management #加密货币