Bitcoin formed a small bearish candle yesterday, with trading volume shrinking by one-third compared to the previous day. On the daily level, the MA30 has begun to turn downwards, the MACD fast line has crossed below the zero line, and the slow line is gradually approaching the zero line, indicating an overall weak trend.
After touching around 112000, a weak hourly level rebound occurred. This position is quite critical—it is both the low point of August 2nd and the starting point of the August rebound, currently forming initial support. However, caution is advised: support cannot withstand repeated testing; if the price retests multiple times without stabilizing, it may accelerate to break down.
If it continues to go down, the next strong support area is in the range of 110270 - 109100, which is near the EMA52 of the 2-day line and the MA120 of the daily line. At this location, a decent rebound is expected to occur.
For short-term operations, consider looking for short opportunities near the EMA52 moving average on the 2-hour or 4-hour level.
To summarize the key levels:
Resistance levels: 116600, 119900, 125000 (daily level)
Support levels: 110270, 109100, 100650, 93900
