August 23 BTC Market Analysis
Current Bitcoin price is around 116,900. The market has shown a pattern of first declining and then rebounding within the day, with strong support at 111,700 quickly leading to a rebound, peaking at the 117,300 region, demonstrating the resilience of the bulls. Coupled with Powell's signal of "potential rate cuts in September," market sentiment has clearly improved, and short-term funds are flowing back in rapidly.
Trading Suggestions
Main Strategy: Gradually buy in the range of 112,000–114,000, with a stop loss at 110,000;
Target Direction: First target 117,500–118,500; once it breaks and stabilizes, the second target directly looks towards 120,000.
Short Opportunity: If 117,500–118,500 remains unbroken after a prolonged attack, consider a light short position with a target of 115,000 and a stop loss at 119,000.
Strategy Logic
Currently, Bitcoin is following a pattern of "testing the bottom and rebounding + consolidating with fluctuations." The support below is solid, and if the pressure above is broken, the price could very well aim directly for the 120,000 round number. Maintain a primary strategy of buying low and a secondary strategy of shorting high, following the flow of funds to seize this breakout opportunity. For those who find it difficult to understand the trend direction, the teacher shares directional strategies daily, so please pay close attention! $BTC
