Trading $BTC between $114,366 and $116,980, showing resilience above the psychological level of $110,000

Previously reached an all-time high (ATH) of $124,000, with current movement showing a consolidation phase

A key support was established at $110,345, which successfully held during recent pullbacks

Market forecasts indicate target price levels for August ranging between $113,495 and $130,000

Key factors influencing the market

Trump's executive order allowing the use of cryptocurrencies in 401(k) plans significantly expands the potential for adoption

Demonstrating confidence from institutions by adding over 120,000 bitcoins to their reserves during July and August

U.S. mining companies now control 31.5% of the global hash rate, indicating growth in domestic production capacity

Futures funding rates on the CME reached 9% (the highest since February), indicating intense bullish positioning

Trading opportunities and technical forecasts

Monitoring the breakout of resistance levels between $117,000 and $118,000 to confirm continued upward movement

Conflicting technical indicators: the Relative Strength Index (RSI) is bearish (75% accuracy) against diverging MACD signals, indicating a need for caution

The long-to-short position ratio at 61.44% indicates a prevailing bullish trend despite technical warnings

Risk management is crucial with broad pricing expectations by year-end ranging between $125,000 and $160,000$BTC #BTC走势分析 #Binance #Write2Earn #bitcoin #NewHighOfProfitableBTCWallets $BTC