8.20 Morning BTC Strategy


Are you panicking when the market drops and chasing after broken levels? There are still stable opportunities in a downward trend.

Bitcoin fell from last night's high of 115847 to a low of 112714 at midnight, followed by small range fluctuations.

Currently, 112700-113000 is initial support. If it holds, it may relieve downward pressure; if it breaks, it could potentially drop to 110000.

The MACD on the hourly chart is below the zero line, bearish momentum has not yet exhausted but the downward trend is slowing. We need to watch for the breakout direction of the consolidation range to determine the subsequent trend.

Suggestion: Around 112540-112040 🈳, target around 110540
BTC-1.56%
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