0806 Bitcoin market report 📢📢📣📣 #加密IPO热潮#

The price of Bitcoin continues to show weakness due to the resonance of technical breakdowns and the implementation of macro policies, but the momentum for a short-term rebound from oversold conditions seems to have strengthened.

Bitcoin plummeted yesterday, breaking through the $115,000 threshold, briefly falling below the key support level of $113,000 before rebounding to $114,300 (expected value), but failed to effectively break through the resistance range of $114,500. It is currently attempting to stabilize around the $113,900 line. Since the pullback from the peak of $118,100-$118,300, a triple top formation pressure has formed.
The gain or loss at the neckline level of $113,000 will determine the short-term direction. If it breaks through the resistance at $114,500 and holds, it may trigger short-covering and buying follow-up, pushing the price towards the target of $116,000. Conversely, if it loses the $113,000 level again, one should be cautious of the risk of a deep pullback to the psychological level near $110,000, which could potentially lead to intensified programmatic selling, probing the support level at $108,000 (200-day moving average). Therefore, before Bitcoin regains strength and trading volume rebounds, the market trend may still remain sideways or downward. Speculative traders may generally be looking for short-term opportunities in other altcoins, as the market has shifted its focus to the urgent need for interest rate cuts.

✅✅Trading Opportunity: Today faces the test of breaking through the resistance level of $114,500. If it breaks through with volume and stabilizes at this position, it may initiate a new round of upward movement; conversely, if the trading volume does not increase, it is highly likely to fall into a range of $112,000 to $114,500 for consolidation.
Operation suggestions: 1. Conservatives: Before breaking through the resistance level: you can consider selling high and buying low in the range of 112,000-114,500 US dollars, and setting up and down 2% for take-profit and stop-loss; 2. Radicals: If the price stands firm at $113,900 and breaks through the resistance of $114,500, you can chase long with the target of $116,000; 3. Radicals: If it falls below $112,600 and fills the lower shadow line, you can consider rebounding to a short position near $113,900 with a target of $110,300.

Special reminder: This article is for readers' reference only and should not be used as an investment basis!!!