BTC Long-term Strategy for Next Week, Long-term View Remains Bullish at 130,000
The weekly ascending channel remains unbroken, with the current price around 117,300. If it can stabilize above 115,000, the mid-term target still points to 125,000-130,000. However, the daily chart shows continuous pullbacks, with the price breaking below the MA20 moving average, MACD forming a death cross, and RSI (14) retreating to the neutral zone of 45, indicating short-term bearish momentum is dominant.
The 115,000-116,000 range is an important support area. If this area is breached, it may test 112,000, and if that level is broken, it could trigger algorithmic selling pressure. The resistance level above is around 119,000; a breakout of this position accompanied by a significant bullish candle would confirm a bull attack.
On-chain data shows that large addresses have steadily increased their holdings, with a net increase of over 28,000 Bitcoins in the past 30 days, indicating that institutional investors are actively positioning themselves during the price correction. Asset management giants like BlackRock and Fidelity continue to increase their Bitcoin ETF holdings, enhancing Bitcoin's recognition as a mainstream asset.
Macroeconomic Impact: U.S. PPI inflation data has skyrocketed, and the market is concerned that the Fed may delay interest rate cuts in September, which could lead to a withdrawal of funds from high-risk assets, putting pressure on Bitcoin's price. However, from a long-term perspective, if interest rate cut expectations heat up again, stablecoins may flow more quickly into risk assets like BTC, driving prices up.
In summary, BTC still has long-term upside potential next week, but faces technical correction pressure in the short term.
Reference to build positions in batches in the 115,000-112,000 range, target 125,000-130,000 $BTC
