8.26 Yanxi midday Silk Road Analysis



From the hourly Bollinger Bands indicator, the current three bands are diverging downwards in sync, indicating that the market is still in a clear bearish channel, and a short-term bearish pattern has formed.

The morning market rebounded after gaining certain support near the lower Bollinger Band, gradually moving away from the low range and approaching the middle band. However, this upward momentum is more like a correction of the previous rapid decline and has not had a substantial impact on the overall downward trend. It is crucial to pay attention to the price's pressure at the middle band; if it faces pressure and falls back, the bearish trend will continue.

Personal suggestions, for reference only:

The pancake rebound to around 110600-111200 can be used to set up short positions, with the target looking towards around 109000. If it breaks below the previous low and forms an entity K line, it is expected to further explore down to around 107000.

The rebound of Ethereum to around 4480–4530 can set up short positions, with the target looking towards around 4330.
BTC0.55%
ETH3.93%
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