8.20 Bitcoin (BTC) Market Analysis Reference

Bitcoin's intraday evening upward movement was blocked at the key position of 116000, leading to a significant reduction in bullish momentum, and the price has also seen a sharp decline. It has now broken through the support at 114000, touching the lower level of around 113000. If it breaks down again, the support will shift to the previous low, and the market will enter a corrective rhythm, so I hope all coin friends are prepared in advance.

From the short-term hourly chart, the trend shows a slow rise followed by a quick drop, with the market within a downward track. Although it has rebounded near the 113000 level, the subsequent bullish supply is insufficient, and the price shows signs of weakness again. Therefore, in operations, the short position should be the main focus in the short term, with short longs as a supplement. Pay attention to the resistance above at 115000 and the support below at 111800.

8.20 Bitcoin Short-term Reference:

Short entry point 115300-116300, stop loss at 121500, target: below 117500,

Long entry point 111500-110200, stop loss at 500, defend at 109000, target above 112400,

The article is sent with a delay, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how high the judgment of the market is, it is essential to manage stop-loss and take-profit effectively, securing profits. #币安HODLer空投PLUME #BTC #加密市场回调 #ETH