8.22 BTC ETH morning thoughts

Looking at BTC on the 4-hour chart, it has dropped from 124545 all the way down, and the trend is a standard oscillating decline. It is currently firmly pressed below the middle line of the BOLL, indicating a very clear short-term bearish trend. It already dipped to 111944 last night, basically hitting support, which shows there is still room below. The moving averages have formed a death cross, and even rebounds can't push it up.

Looking at the 1-hour chart again, the rebound highs are getting lower and lower, the BOLL mouth continues to turn down, 113000 has become a firm resistance, and it has failed to break through several times, with bears completely in control. The volume is also typically showing increased volume on the decline and decreased volume on the rebound, indicating that funds are flowing out, and there is basically no one to take over.

BTC: Currently trading sideways between 112500 and 113000, appearing stable, but in fact just accumulating strength. Therefore, Xiao Zhuge believes that as long as it can't break above 113000, it could drop at any time, with a high probability of testing 111500 or even 110000.

ETH: As long as it doesn't stand above 4300, the market will have to go down a bit, targeting 4220-4150, if it breaks, look for 4000.
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