BTC: The second wave decline has started, with 110,000 as the short-term target

Yesterday's performance was completely in line with expectations: During the US trading session, it fell from the 115K resistance level, reaching a low of 112.6K (close to the 112.5K support level). After hitting a new high in mid-July, Bitcoin has been oscillating in a top range for nearly 20 days. After breaking below the bottom of the range at 116K last Friday, it started a wave of decline. Following a two-day volume-reduced rebound to repair technical gaps, the daily chart has entered the second wave of decline due to escalating trade tensions.

The volume characteristics show: yesterday's moderate volume decline continued today, with a high probability of a short-term drop to the 110,000 level. The 4-hour chart indicates that the rebound yesterday faced resistance multiple times at 115K, with a large bearish candle formed on strong volume during the US session, signaling clear exit of long positions; the early morning rebound was on low volume, and currently, another large bearish candle is forming, with adjustment momentum continuing to be released.

Intraday operations focus on bearish opportunities at the 114-115K resistance levels, with support levels watching 111.5-112.5K. #ETH巨鲸增持