8.22 midday thoughts



BTC 1-hour chart: The upper Bollinger Band is forming strong resistance, and after the price touches the band, it closes with an upper shadow indicating stagnation in the rise, with selling pressure concentrated. The upper band is turning downwards, and after the Bollinger Bands have narrowed, they show a bearish signal of potential downward divergence, with insufficient rebound volume and weak bullish support.

If it breaks below the middle track, the adjustment space will open up, and the short-term bearish trend will dominate. However, the middle track shows signs of flattening, so stop-loss measures should be set to guard against a rebound.

Suggestion:
The pancake can be at 113600, targeting around 111000.
Aunt can be around 4380 Gong, target 4100
BTC-0.76%
ETH0.27%
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