Is BTC 124,000 USD a false breakout? Fibonacci retracement hides danger, 90% of people don't know the escape signal from the top!!!

News: Inflation data + policy bearishness are the main reasons

US PPI exceeds expectations: July PPI rose 3.3% year-on-year, far exceeding market expectations, inflationary pressures reignite, and Fed rate cut expectations are reversed;

Officially pouring cold water: Treasury Secretary Yellen explicitly denied that the "government is expanding reserves of Bitcoin," shattering institutional entry fantasies;

Regulatory loosening instead becomes bearish: The Federal Reserve cancels special regulation of banks' crypto operations, but the policy vacuum period is extended, and institutional capital is in a strong wait-and-see mood.

Technical analysis: Double top pattern + leverage liquidation, bulls suffer "massacre"

Key levels lost: 1-hour candlestick shows Bitcoin formed a "double top" at 119,500 USD; after breaking down, it triggered a four-hour chart "oscillation failure," leading to a chain reaction of programmatic sell orders;

Indicator divergence: The three-day chart RSI shows "bearish divergence," with prices reaching new highs but indicators turning around, 117,000 USD becomes the dividing line for bulls and bears;

Wave of liquidations surges: Over 210,000 investors liquidated in 24 hours, totaling 1.047 billion USD, of which Bitcoin accounts for 782 million, with leverage exacerbating volatility.

Exclusive viewpoint from the expert: Short-term fluctuations, long-term "digital gold" logic remains unchanged

This round of sharp decline is caused by macro bearishness, technical worsening, and emotional stampede resonance, but in the long run, Bitcoin's "digital gold" attributes continue to strengthen:

Surge in demand from emerging markets: Depreciation of fiat currencies in Latin America drives a surge in Bitcoin trading volume, becoming a "tool for escaping currency restrictions";

Institutions secretly laying out: BlackRock's Bitcoin ETF size exceeds 52 billion USD, MicroStrategy hoarding 250,000 coins;

Federal Reserve policy shift imminent: The probability of a rate cut in September is still over 90%, and liquidity easing may restart upward.

Expert's exclusive advice: Pay attention to the support level of 116,600 USD in the short term; if it holds, consider lightly trying to go long; if it breaks, wait for 112,000 USD to re-enter. Remember: Bull markets often have sharp declines, don’t get washed out by a single candlestick!

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