8.12 Afternoon Analysis



The hourly chart of Bitcoin shows a fluctuating but slightly strong characteristic. Although it encountered resistance and retraced after breaking through the 119,000 mark, the extent was limited, and a sustained decline did not occur. Bears failed to expand their gains, while bulls quickly reclaimed lost ground, indicating an intensifying divergence between bulls and bears, with bulls still holding the initiative for upward momentum.

Ethereum's strength is more pronounced, with bulls continuing to exert force, and the price steadily advancing towards the upper Bollinger Band. The MACD indicator's fast line and slow line maintain a golden cross upward, positively correlating with the price trend, further consolidating the bullish dominance.

It is recommended to buy Bitcoin around 1180-1185, with a target of looking at 1197-1207!

Ethereum is around 4220-4260, aiming for 4330-4400!

ETH3.7%
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