BTC: High-level fluctuations await resolution, volume-price divergence hides the risk of a trend reversal

Yesterday's movement completely met expectations: After multiple touches on the 119K resistance level during the European session, the US session saw a drop below the 117K support, with the daily line still oscillating within the 116K-120K high-level range. However, due to the prolonged sideways movement, the original upward trend line (blue line) has been damaged.

Volume characteristics indicate that after a significant increase in volume in early to mid-July, there has been a continuous decrease in volume during the recent sideways movement, highlighting an increasing cautious sentiment among investors — this pattern of high-level stagnation accompanied by decreasing volume is typically a signal before a trend reversal.

Subsequent key signals: A bullish breakout requires: a daily volume breakout above 120K and a close with a solid bullish candle;

A bearish breakout requires: a daily volume drop below 116K and a close with a solid bearish candle.

This signal will directly determine the market direction in August. After dipping to 117K in the US session, the 4-hour line rebounded, forming a triple long lower shadow bullish candle, and the Asian session may continue the rebound.

For intraday operations, continue to focus on short opportunities at the upper 119K-120K resistance level and pay close attention to the 117K-116K support level below. #BTC走势分析