Analysis of Bitcoin Strategy on the Evening of August 20

If Bitcoin can hold above the level of 113810 today, the bullish rebound strategy can be continued. It is important to pay close attention to the three key resistance levels above, which are:

First resistance level: Around 114500

Second resistance level: Around 115800

Third resistance level: Around 116700

If the price breaks below 116700 and fails to regain 113810 on the rebound, it indicates insufficient bullish momentum, and a switch to a pullback observation mode is necessary. The following two key support levels can be monitored below:

First support level: 112500, which can serve as an initial entry reference

Second support level: 110666, which can be further evaluated for entry opportunities if touched

Additionally, around 109188 is a dividing line between bulls and bears. If this position holds, a bullish bias can be maintained; however, if it is effectively broken, one can follow the bearish trend for operations.