Family, today let's analyze the price fluctuations of Bitcoin (BTC)! The current price of Bitcoin is $113,812, which has dropped by 0.45% in the past 24 hours, with a low of $112,722.

From a technical perspective, Bitcoin has broken below the 200-day moving average, which is $114,855, and has also fallen below the Fibonacci support level. This indicates that the short-term trend has turned bearish. Moreover, the total liquidation across the network reached $950 million in the last 24 hours, with long positions accounting for 90%; leveraged long holders have been severely wiped out this time.

If Bitcoin cannot hold the price level of $112,850, it may accelerate its decline towards $110,000, and could even test the Fibonacci retracement level of $108,888. Although the RSI indicator has fallen below 30, indicating oversold conditions and a rebound signal, Ethereum's RSI is even lower at 22. However, the MACD green bars are still increasing, indicating that the bearish momentum has not yet waned, so if we want a rebound, we must see whether the trading volume supports it.

Now let's discuss the upcoming trend predictions. In the short term, Bitcoin is likely to experience bearish fluctuations over the next week, with a focus on whether the support level of $112,850 is effective. If it breaks, we will continue to look down at $110,000. In the medium term, within 1 to 3 months, if the Federal Reserve cuts interest rates in September, Bitcoin may start to rebound, targeting a price of $120,000 - $125,000.

btc Hao has also provided today's operational guide, suggesting to short around $113,800 - $114,100, with a target down to $112,900 - $112,600. Additionally, if tonight's PCE data exceeds expectations and reinforces a hawkish stance, it may trigger a second decline for Bitcoin; if that happens, we will look down to $118,000.