8.22 Evening Bitcoin Analysis

The afternoon market continued the intraday downward trend, with the price of the coin rebounding to test the upper pressure but failing, remaining in a narrow range of fluctuations. The bearish outlook given in the afternoon was once again validated, with short positions continuing to increase and pushing downwards. Those who entered short positions around 113000 can choose to reduce their positions or take profits, while aggressive traders may continue to hold, looking at a target near 111000.

From the current trend, bears still dominate the market. This evening, due to news influences, it is advised to prioritize taking profits or to pay attention to whether the upper level of 113500 can break and stabilize. If it cannot stabilize, there is a possibility of another deep adjustment in the market.

Evening operations for Bitcoin can consider setting short positions near 113000. #币圈 $BTC