📉 Bitcoin Market Analysis 0829 (Updated in the early morning)
Current Market Situation:
· Current BTC Price: Approximately $112,500
· Short-term Trend: Weak oscillation, key range for bulls and bears at $110,000-$114,000, with strong market wait-and-see sentiment.
Technical Highlights:
✅ Support: $111,000-$110,000 (previous lows + round numbers + moving average support), if broken, look for $109,500-$109,000
❌ Resistance: $113,500-$114,000 (recent highs + moving average resistance), strong resistance at $116,000
📊 Indicators: MACD bearish trend weakening but remains weak, RSI around 45.6 neutral, declining trading volume
Key Risks: ⚡️ Maximum pain point near $114,000 for options expiration, may increase volatility ⚡️ High leverage long positions concentrated, beware of squeeze risk ⚡️ Pay attention to macroeconomic trends regarding Federal Reserve policy
Operational Ideas:
🔁 Range oscillation strategy: If price rebounds to the $113,000-$113,500 area and faces resistance, consider light short positions (stop loss above $114,000), if it stabilizes on a pullback to the $111,000-$110,500 area, consider light long positions (stop loss below $110,000)
🔁 Follow the breakout: If it stands above $114,000 with volume, look for $116,000, if it falls below $110,000, beware of a drop to $109,500-$109,000
⚠️ Reminder:
· Use small position sizes, avoid heavy leverage
· Always set stop-losses to guard against sudden volatility
· Keep an eye on news changes
