Crypto enthusiasts, hurry up! Today's Bitcoin market reveal
Dear friends, today's Bitcoin trend has truly captured everyone's attention! The price is hovering around 113,500, and in the past 24 hours, it has dropped by 0.56% - 1.7%, repeatedly bouncing in the range of 113,000 - 114,000. 115,000 seems like an insurmountable barrier, and the price has yet to stabilize.
Today, it peaked at 114,300 but was instantly pushed back down. It's clear that there is significant selling pressure above; the bulls want to push higher but seem to be struggling. From a technical perspective, while the MACD green bars haven't noticeably lengthened, they also show no signs of shortening, indicating that bearish momentum is still ongoing, just currently in a stalemate. The middle band of the Bollinger Bands is starting to flatten, and the price is operating below this middle band, indicating an unclear short-term trend and a strong market wait-and-see sentiment.
We need to seize trading opportunities:
- Long: Focus on the range of 113,000 - 112,500. The price has tested this area multiple times today. If it drops here and can gain effective support, consider attempting a long position, targeting 115,000 first.
- Short: 115,000 is the ceiling for the recent rise; previous attempts to breach this level have failed. If the price rises to this range tonight and clearly encounters resistance, consider a short position, targeting 113,000.
However, today's upward momentum for Bitcoin is noticeably insufficient, with significant resistance at 115,000 and repeated support at 113,000. The market feels like it's waiting for a decisive moment, with the U.S. CPI data on August 15 and the tariff details potentially breaking the current deadlock. I suggest everyone watch more and act less recently, and definitely don't go all-in betting on the direction; otherwise, it’s easy to get “backstabbed” by this volatile market! What do you think about today's Bitcoin market? Let's discuss in the comments!
