The market outlook for Bitcoin may exhibit the following characteristics:

1. Short-term volatility narrowing: Low liquidity over the weekend leads to decreased market activity, and price fluctuations are usually smaller than on working days. The current Bitcoin price is oscillating between $113,000 and $117,000, with attention needed on the support levels of $114,300 and $114,700, and the resistance level of $117,000.

2. Impact of policy expectations: Federal Reserve Chairman Powell hinted that the probability of a rate cut in September has risen to 86.1%, which increases market risk appetite. Bitcoin, as a high-risk asset, may benefit from capital inflows. However, caution is needed for the market's "buy the expectation, sell the fact" reaction after the rate cut.

3. Technical observation: The daily chart shows an unconfirmed double top pattern, while the four-hour MACD indicates a golden cross, but prices remain pressured at $117,000. If the $117,000 resistance is broken, it may open up upward space; if it breaks below the $114,300 support, caution is advised for potential pullback risks #ETH创历史新高 $BTC #杰克逊霍尔会议 $ETH