Additionally, it is recommended to focus on several key points:

🥶 Is it a true breakthrough or just a façade? Evening market trend review (08.08)

First, let's look at the operation suggestions
Aggressive: High trading risk before CPI, consider setting a dual-direction breakout order near the resistance at $118,000 and support at $112,000, with strict stop-loss.
Conservative: Stay out of the market and observe, strong signals from whales distributing, high uncertainty around CPI, wait for clear direction before entering.
For those without positions: Wait for tonight's CPI data; the market will present clearer opportunities after the data release.

Short-term Bitcoin trend
1. Current price $116,850.58 (↑0.17%), with minimal fluctuations over the past 24 hours, the 7-day increase narrowed to +1.73%, the market is waiting for CPI data, showing a consolidating state with weak upward momentum.
2. The market is "strong on the outside, weak on the inside": futures orders are primarily from retail investors, lacking large capital drive; long-term selling pressure remains.
3. Resistance at $118,000-$120,000, support at $112,000, may break after CPI data.
Funding rates are low, open interest slightly increased, both bulls and bears are cautious in their positioning, with no excessive leverage betting.

Operation window
1. Strong signal for reducing positions: whale ratio 0.98 (large whales are concentrated in holding coins, significant selling pressure), MVRV 2.26 (price may be overvalued).
2. Conflicting funding situation: net outflow from exchanges (seems like a bullish signal), but whales have a strong selling intention; the current consolidation may be a "distribution trap".
3. Major players are preparing to sell while retail investors are buying, accumulating downward risk.

$BTC

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