8.20 Bitcoin (BTC) Today's Latest Market Analysis Reference, Including Operational Reference Ideas

Bitcoin's intraday evening rally was blocked at the key position of 116000, leading to a significant reduction in bullish strength, and the price has fallen sharply. So far, it has broken below the support of 114000, touching the low of 113000. If it breaks down again, the support will shift to the previous low, and the market is entering a correction phase, so I hope all coin friends are prepared in advance.

From the perspective of the short-term hourly chart, the trend shows a slow rise and a fast fall. The market is within a downward track. Currently, although it has rebounded near the position of 113000, the subsequent bullish supply is insufficient, and the price shows signs of weakness again. Therefore, in terms of operations, the short position is still the main focus in the short term, with long positions as a supplement. Pay attention to the upper resistance at 115000 and the lower support at 111800.

8.20 Bitcoin Short-Term Reference:

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

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

There may be delays in sending articles, and strategic suggestions are for reference only. The market changes rapidly, and no matter how high your judgment and grasp of the market are, always ensure to take profit and stop loss properly for security.

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