Latest trading strategy for Bitcoin on Wednesday, August 20:

From the four-hour chart, Bitcoin is overall in a downward trend. The Bollinger Bands are all tilted downwards, and after breaking the middle band, it has continued to probe down to the lower band which provides some support, but has not effectively curbed the downtrend. Looking at the MACD indicator, both lines are in negative territory and have formed a death cross, clearly indicating that the short-term bearish trend is dominant.

From the one-hour chart, the Bollinger Bands are diverging downwards, with the price tightly following the lower band, further highlighting the significant characteristics of a short-term downward channel. The bearish forces are firmly controlling the market direction, and currently, the market atmosphere is heavily bearish. Therefore, the short-term strategy should mainly focus on high short positions.

Bitcoin: around 114500, with a stop at 115200 and target at 112000-111000. $BTC