BTC Analysis for the Evening of August 29

112500 has not been able to stabilize, last night there was a price increase for selling, it is regrettable that Xing Ge also suffered losses.

From the current market perspective, bearish sentiment is spreading, Bitcoin has not escaped the descending channel, but at the same time, the buying power at the lower red line is very strong, short-term stuck in range adjustment. As long as the monthly line closes above 112500, the upward channel will reopen; before that, it is advisable to sell high and buy low.

First resistance level 112500, second resistance level 114700

Small support 109500, second support 108000