What mysterious force is suppressing the rise of Bitcoin?

Recently, there have been many positive news reports, but Bitcoin has not broken through the resistance level of 105000~106000; instead, the momentum is unstoppable. The recent good news is regarding interest rate cuts expected in September and October.

Looking at the 4-hour chart, the market is showing a double shoulder pattern, expected to form tomorrow. Once this pattern is established, the market will likely experience a period of consolidation and decline, with a strong rebound expected in September; at that time, we will see if it can break through 110,000 in one go.

From the 1-hour chart perspective, the current market is still oscillating around the middle track. The resistance level is 105000, and the support level is 103000.

Trading suggestions:

Long: Enter long near 103000. Stop loss at 102700, target around 104500.

Short: Enter short near 104500. Stop loss at 105200, target around 103000.#CPI数据来袭 #币安Alpha上新 #山寨币交易 #BTC