8.13 Initial Thoughts Analysis
From the current 4-hour chart, the price of Bitcoin is gradually oscillating and has entered a consolidation phase after showing a downward trend.
The market is influenced by the upper trendline resistance and the lower support line, resulting in a narrowing price fluctuation range, with downward pressure slightly higher than the rebound momentum. As the bearish signal of MACD strengthens, it is expected that there will still be a certain demand for downward movement in the short term, and the focus remains on short positions.
Trading Suggestions
Bitcoin: Short at 120000-120800, target 118000-118800
