8.18 Bitcoin Morning Thoughts

From the hourly Bollinger Bands observation: the upper band shows an upward turning extension, indicating there is expansion space above, but the short-term guidance is relatively weak; the lower band and middle band continue to decline, suggesting that the short-term downward trend has not yet reversed, and the relevant momentum is still in the process of being released.

Looking at Dian Wei's performance, its center of gravity continues to stay close to the lower band, but during the consolidation phase, there has been an effective rebound action away from the lower band, indicating that the short-term bearish strength is not still in a dominant position.

Bitcoin trading thoughts: Buy on pullback to around 115700-116800, looking to target 118000.