Analysis of Bitcoin Operations on August 23

From the hourly trend perspective, after a period of consolidation and correction, the current price of Bitcoin has gradually stabilized and temporarily stopped falling; however, the momentum for a short-term rebound is insufficient, and the upside space is expected to be relatively limited, making it difficult to form an effective breakout momentum. At the same time, the market trading volume is also showing a shrinking trend, with insufficient follow-through in volume, leading to a relatively weak support for the rebound. Considering these factors, it is recommended to set up short positions when the price rebounds to a relatively high level.

Operation suggestion: You can place a short position at 116,900, targeting 115,500, and then looking at 114,000.