Currently, $BTC is completely controlled by bears, don't blindly buy the dip! If this position holds, we could see 116000, but in the long term, expect 16k!
Bitcoin has three consecutive bearish daily candles, dropping to a low of 112722 this morning, and various indicators have not fully released their downward signals yet.
112000 was the platform's peak before the breakout in July; if it falls below, we will return to the 100000-112000 fluctuation zone; 115000 is now a strong resistance level, any rebound is just a trap for bulls.
Ethereum has dropped below 3430, and SOL has plummeted to 168, with funds all fleeing to Bitcoin, showing a clear bloodsucking market.
Trump angrily criticized the statistics bureau for "inflating 818,000 jobs"; if the data is false, the US stock market and cryptocurrency could crash in August.
Institutions, however, are secretly buying the dip, with whales accumulating positions at lower prices; the probability of a rate cut in September is 81.9%, but August's liquidity tightening is bearish in the short term and bullish in the long term.
If 112000 holds → sideways market over the weekend, next week a rebound to 116000-117000 will trigger short stop-losses, then a sharp drop to 109000-110000 will establish a 4-hour bottom divergence, and then a monthly rebound.
If 112000 breaks → bearish over the weekend, next week a direct drop to 108000, panic selling could push it down to 96000-100000, with a reversal expected by the end of the month.
On August 8-9, watch the CPI data and the stop-loss signals between 108000-112000; after August 20, rate cut expectations will ferment, setting up for a quarterly rebound.
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