[BTC Intraday Trading Strategy] August 22: Focus on the Jackson Hole central bank meeting, with the $113,000 level becoming a short-term focal point.

The overall market is influenced by Federal Reserve Chairman Powell's upcoming speech at the Jackson Hole central bank meeting, with trading sentiment being cautious and volatility being high. CME Bitcoin futures main contracts fell 1.63% yesterday.

Core long and short factor analysis

1. Macroeconomic pressures dominate sentiment: This week's core focus is on Federal Reserve Chairman Powell's speech at the Jackson Hole annual meeting (August 21-23), where the market hopes to gain clues about the timing of interest rate cuts. This event has made traders nervous and is the main factor putting pressure on the market recently.

2. Technicals are weak but nearing oversold: The 4-hour BTC chart shows a bearish short-term trend. The RSI indicator is at 34, approaching the oversold zone, indicating a potential technical rebound opportunity in the short term. However, the MACD indicator has crossed below the zero line and entered negative territory, indicating weakening bullish momentum. Analysts believe that BTC may test support near $111,000 before rebounding.

3. Market sentiment shifts to neutral: CryptoQuant data shows that the Bitcoin bull market index has changed from 'bullish cooling' to 'neutral'. At the same time, the Fear and Greed Index also indicates a 'fear' state, suggesting that market sentiment has significantly cooled compared to the previous frenzy.

4. Key positions:

· Resistance levels: $116,650 (recent resistance), $119,000.

· Support levels: $111,900 (recent support), $107,400, $105,200.

Operational suggestions

· Short-term traders: Closely monitor the performance at the $111,900 support level. If the price stabilizes here and the RSI forms a bullish divergence, consider light long positions with a target of $116,650 and a stop loss set below $110,500. If a rebound encounters resistance near $116,650, consider short positions.

· Medium to long-term investors: Currently, the market is heavily influenced by macro events, and it is advised to remain patient. If BTC can pull back to the $107,400 - $105,200 support area, it may be an opportunity for gradual positioning.

· Risk control: Today's speech by Powell is the biggest variable, so be sure to operate with light positions and set stop losses. There has been a high amount of liquidation in the market over the past 24 hours, so be cautious of extreme volatility risks.