Any updates? Evening market trend review (08.14)
First, let's look at the trading suggestions
1. Aggressive traders: The current price is not suitable for shorting; it is recommended to wait for the price to rebound to around $117,000, then lightly short with a stop loss set above $117,500, targeting $113,000.
2. Conservative traders: Maintain a wait-and-see approach and enter the market after the market stabilizes. If the price falls below $113,000, there may be better entry opportunities.
3. Cash holders: Closely monitor market dynamics and make decisions after clear signals appear from macro and technical perspectives.
Bitcoin short-term trend
Current price: $115,043.96 (↓2.85%)
Market structure: Retail trading activity in the spot market has surged, but the average order size is normal. Retail participation in the futures market is relatively low, with average order sizes skewed towards retail levels. Overall, market sentiment is cautious with significant selling pressure.
Liquidation warning: The current price has fallen below the key support level, and if it continues to decline, it may trigger larger-scale liquidations. The upper resistance level to watch is $117,000, and the lower support level is $113,000. Given the price drop and market structure, bulls face certain liquidation risks.
Trading window
1. Strong reduction signal: The exchange whale ratio is relatively high, indicating that whales are conducting large trades.
2. Support band reference: Key support is around $113,000; breaking below this could accelerate the decline.
3. Funding is bearish: The funding rate is low, indicating weak bullish sentiment. The net inflow of funds into the exchange is positive, which may indicate increasing selling pressure.
