Brothers, today Long Ge will discuss the BTC market conditions with everyone, all fresh insights just out of the oven, combined with the latest market dynamics and technical indicators, we'll break it down step by step.

First, let's look at the current market situation and key data. On August 1st, Bitcoin broke through the critical support level of 114,000 USD, hitting a low of 112,600 USD, with a 24-hour drop of 5.11%. This was no small matter, directly causing 180,000 investors across the network to be liquidated, with losses exceeding 629 million USD, making for quite a grim scene.

However, right now, the price is oscillating between 113,800 and 114,000 USD. Looking at the 4-hour chart, the EMA250 is roughly positioned at 114,500 USD, forming a short-term support. If it can stabilize here, it might trigger a technical rebound.

Now, let's talk about the bullish and bearish tug-of-war on the technical side; there are still some rebound signals worth noting. The 114,000 USD level is the support of the wedge trend line from July, which has bounced back several times after testing, just like after hitting the bottom on August 1st, it rebounded by 2,000 points, so the validity of this support level needs to be monitored.

There's also a demand for oversold recovery; in the 4-hour chart, the RSI has started to turn upwards after hitting the oversold zone, the green bars of MACD are shortening, and the KDJ three lines are sticking together, which indicates that there is rebound momentum in the short term.

Finally, Long Ge will share the operating strategy for today. In the short term, consider going long, entering the range of 113,500-114,000 USD, with an initial target around 115,000-118,000 USD. But don’t forget, the market is full of uncertainties, so keep a close eye while operating! #BTC