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Trader Xia Lao Zheng's thought sharing on Wednesday evening, 8.6
From the 4-hour chart, the market shows a two consecutive bullish recovery trend, with bullish momentum gradually accumulating. Combining with the daily chart, the current price is oscillating near the upper band of the Bollinger Bands, indicating that the overall market is not a one-sided trend, and the short-term movements are volatile; the 5-day moving average is closely aligned with the 10-day moving average, suggesting that the market's oscillation range may further narrow.
On the hourly chart, the price slightly retraced after reaching the previous high, but the extent of the pullback is limited, indicating that the support below is solid. In the evening, we still maintain a bullish outlook.
On Wednesday evening, it is recommended to set up long positions for Bitcoin in the range of 113500-114000, targeting around 116000.
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