On the early morning of August 27, after the short positions were swept away, yesterday's market continued to decline, effectively breaking below the previous oscillation range, with the intraday low dropping to around 108660.
After the low, there was a slight rebound, currently oscillating around 112300. The four-hour level rebounded to the middle track of the Bollinger Bands, facing resistance, and has not achieved an effective breakout. Bullish momentum continues to weaken, lacking further upward force. Technical indicators show insufficient upward momentum, and the overall weak oscillating pattern remains unchanged, with prices still under pressure to retract.
Direction for Bitcoin: Short positions
Entry range: Around 112000 - 112600 (need to observe the validity of resistance in this range; if a resistance signal appears, then enter the market)
Target levels: Looking down to 110000 (first target), 108000 (second target), 105000 (third target)
