Brothers, let's talk about the current situation of Bitcoin today. As of the afternoon of August 6, the price of BTC was $114,100, down 0.91% in the past 24 hours, fluctuating between $112,200 and $115,300.

Market sentiment is quite tangled. ETF issuers such as Fidelity and Grayscale are selling, while listed companies such as Empery Digital are buying, with bulls and bears working against each other. Another point to note is that there is a whale holding a $115 million short position with a liquidation price of $114,491, which is more than $300 away from the current price. Be careful of sudden spikes.

Technically, in the 4-hour chart, the MACD histogram is shortening, the bullish momentum is slightly stronger but not yet a golden cross, the KDJ is neutral (27), and the overall trend is volatile. The Bollinger Bands are closing, and the price is below the middle line (114,200). If it breaks through the middle line, it can reach 115,000, otherwise it may fall back to 112,500. Moreover, the trading volume did not keep up with the price rise, and the rise is a bit weak. On the daily chart, the MACD has formed a death cross, and the RSI is at 48, indicating a weak to neutral reading. If 113,000 cannot be sustained, the market could accelerate to 110,000. However, the weekly chart remains in an upward trend, with 103,000 being the dividing line between bulls and bears.

Finally, a brief guide: Chen Ge recommends shorting.

If entering the market, enter around 114,300-114,800.

The target is 113,300-112,600.

Also, remember to carefully manage risk when trading, ensuring that both position size and stop-loss are clearly defined. #btc