August 20th Big Pie
In the early morning, BTC first declined from the 114200 level, reaching a low point of 112800 before stopping the drop. It is currently hovering around 113000, undergoing consolidation. Overall, the price is fluctuating within a low range, and the downward momentum has clearly slowed.
Currently, both long and short positions are in a tug-of-war within this range, with forces relatively balanced. If the price breaks upward past 113600 and approaches 114200, attention should be paid to potential resistance in that area; if upward movement encounters significant resistance, the market is likely to extend the consolidation period.
Suggestions:
Near 113500, step in cautiously. The initial target is 112000, and if it breaks below, then watch the 111000-110000 range.
