Today let's talk about its possible trends ahead.

As August began, Bitcoin surprised everyone by briefly dropping below $112,000, which scared a lot of people. In the past 24 hours, more than 110,000 people were liquidated in the cryptocurrency market. However, the market is quite magical, and fluctuations are normal. From the recent trend, the daily correction seems to have ended, and the short-term low has been confirmed, forming a relatively healthy bullish rebound trend. On the four-hour level, there have been continuous upward candles, and the price has firmly stood above the middle line of the Bollinger Bands, achieving a small cycle breakout, with a clear strong bias in the short term.

Therefore, I believe that after the correction, Bitcoin is likely to rise again. In terms of operations, one can consider entering long positions around the price range of $113,500 - $113,800. Initially, let's target $114,700; if it reaches this price and the momentum is still strong, then we can continue to look towards the vicinity of $115,300. However, everyone should also be aware that we have not yet entered a state of extremely strong one-sided upward movement, so there is still uncertainty.

When trading, be sure to manage your position size well and do proper risk management. Never go all in; otherwise, if the market reverses, it could lead to significant losses. Being cautious in investments is always a good idea. I wish everyone the best in making money in the Bitcoin market! #BTC☀