$BTC 🎙️【BTC Morning Update｜August 20th 09:00 (Beijing)】

Spot price based on Binance: BTC/USDT around 113520, 24h high 116980, low 112767; perpetual contract around 112906, 24h high 116688, low 112667. Data is based on the Binance page you see at this moment.

Structure: Price remains within the 112.7k to 116.9k trading range; key resistance at 118k/120k above, a breakout with volume is needed for further upward movement.

Funds: Spot ETF saw a net outflow of about 122 million USD on August 18th, short-term funds are cautious, but this is a phase of volatility, requiring volume confirmation for direction.

Multi-dimensional interpretation: Price is close to the lower edge of the range, the difference between derivatives and spot prices is controllable, and the structural increase of ETF on the policy side is still present, but short-term speculative funds are more cautious due to the net outflow — this determines that "breakthrough requires volume, without volume there will be fluctuations".

Strategy (both long and short prepared, not investment advice)

* Long: If it stops falling and increases in volume between 112.8k to 113.5k, it can be tried for a long position, target 116.9k to 118k; if it breaks above 118k with volume, add positions looking at 120k; stop loss at 112.6k.

* Short: If it is under pressure near 118k and volume diverges, it can be tried for a short position, target 116k, stop loss at 118.6k; if it breaks down with volume below 112.7k, continue shorting, looking at 112k/110.9k.

48-hour maximum win rate direction: Fluctuating upwards — the lower edge of the range is still holding, if volume recovers, prioritize looking at 116.9k to 118k before reassessing 120k.

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