August 3rd Bitcoin Market Analysis:

Looking back at the evening trend, Bitcoin maintained a consolidation range between 112600 and 113900, with relatively smooth fluctuations.

From the hourly Bollinger Bands perspective, the upper band continues to flatten, indicating that the short-term pressure level above is relatively solid, and the bullish momentum for a breakout has not yet been released; while the lower band is obviously sloping downwards, forming an increasingly open pattern with the upper band, which typically reflects that the market's short-term volatility is increasing, with a widening divergence between bullish and bearish forces.

The price center continues to operate close to the lower band, showing that the short-term trend is slightly dominated by bearish forces, and the price is exhibiting a weak consolidation pattern during the fluctuation process.

Therefore, in terms of operations, one could consider placing short positions near the range of 113600-114200, aiming for a target near the range of 112600-112000. #币圈 $BTC