$BTC 8.21 Bitcoin Trend Analysis
The medium to long-term outlook for Bitcoin remains bearish, and a small structure may form a double zigzag.
The first zigzag has completed, with support at 112000. Currently in a rebound phase, with an expected target near 116000.
The second zigzag is declining, with the initial target set at around 106000.
No change for medium to long-term short positions. Short near 116000.