Bitcoin has broken through the high of July 14 and set a new historical high.

However, from the perspective of volume and price analysis, the trading volume during the rise from August 3 to August 14 is significantly lower than that from July 8 to July 14, and far lower than the trading volume during the rise in April, indicating a clear weakening of buying interest in Bitcoin.

Moreover, after breaking the July 14 high, Bitcoin quickly surged and then fell back, further proving the lack of follow-up buying support. Therefore, the probability of Bitcoin continuing to rise is low.

From the trend line perspective, Bitcoin is rising along the short-term trend line. If Bitcoin breaks below the short-term trend line, it could likely mean that Bitcoin is entering a downward trend.