$BTC
🎤【BTC August 17 Evening Market Brief】
“Good evening to friends in the crypto world, below is tonight's precise breakdown of BTC!
The current Bitcoin price has just touched around $117,500, slightly up from the previous day and stabilizing near the psychological line.
From a funding perspective: although ETF inflows have slightly retreated from previous peaks, the long-term structure remains unchanged, and bullish funds are still being deployed; additionally, the focus remains on ETH ETF, with significant capital rotation.
The policy inclination still favors the bulls, with institutions promoting diversified asset allocation, continuously boosting market sentiment. On-chain, there is noteworthy news — a dormant whale account has moved out over 3,000 BTC, creating some short-term selling pressure.
On the technical front, BTC is currently oscillating and consolidating within the range of 116k to 118k. The moving average system is stable, with the 200-day moving average at $100,000, providing structural support. If it stays above 118k, it will have the conditions to challenge 120k to 122k again.
Trading suggestions:
* Moderate entrants: consider lightly entering a long position in the range of $117,000 to $117,500, targeting $118,500;
* Aggressive trend followers: if a breakout occurs above $118,500, you can seize the opportunity, but be sure to set a stop-loss at $117,000 to prevent a pullback;
* Short-term risk-takers: if it falls below 116k, it is recommended to watch or exit to avoid being caught in a downturn.
In summary: BTC is oscillating at the psychological level, the structure remains stable, bullish sentiment is maintained, and we need to wait for volume support to take off again.
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