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Morning Thoughts on 8.30
From the current market perspective, there is a clear reversal signal on the daily chart. The previous upward structure has been significantly broken by the recent decline, and a clear trend reversal has occurred, with bears clearly continuing to form.
The price of the cryptocurrency has strongly broken below the lower Bollinger Band. Although it has paused for a rebound, it is merely a corrective process after a significant drop. The overall market remains bearish, and the short-term outlook remains bearish.
Operation suggestions
Bitcoin: around 1085-1090, target near 1065
Two cakes: around 4470-4500, target near 4350.
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