【Bitcoin (BTC) Intraday Analysis】
1. Price Dynamics
Current Quote: 118,016, 24-hour Decline: 0.13%, Intraday Low: 117,985 (Testing Key Support) Institutional Selling Pressure Continues: Recently, institutions have seen a net outflow of 285.2 million BTC through ETFs, putting short-term liquidity under pressure,
2. Technical Signals Bearish Dominance: MACD Momentum is Bearish, Bollinger Bands Converging Indicate Narrowing Volatility; EMA120 (117,650) is Key Support, if breached, may test the 116,000-114,000 range.
Double Top Risk: MVRV Indicator Suggests a Possible 'Double Top' Structure Forming in Early September, Caution for Mid-term Correction.
3. Trading Strategy
Short Position Opportunity: Lightly Short Near 118,500, Stop Loss at 119,200, Target 117,500-117,000.
Long Position Caution: If Stabilizing at the 116,500-115,500 Support Zone, May Bet on a Rebound, Stop Loss at 115,000.
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