Wang Pang combines the latest market data of BTC, analyzing from technical perspectives, capital movements, and macro factors for everyone's reference:

On August 30, BTC fluctuated around $108,000, dropping more than 3% in 24 hours. Previously, it fell from a daily high of $112,652 to $108,198, mainly due to a sell-off of 24,000 BTC (worth over $2.7 billion). Now, it has retraced about 10% from the historical high of $124,496 in mid-August.

From the technical indicators:

• The 4-hour MACD bars have remained negative and are lengthening; the bears are still dominant, and the short-term momentum is weak.

• The KDJ value is around 64 in the neutral zone, showing neither a golden cross nor a death cross, suggesting the market may experience fluctuations.

• The short-term moving averages are in a bearish arrangement, with prices breaking below all major moving average supports, indicating a downward trend.

• The nearest support level is $107,414, followed by $106,408, and further down, the range of $105,000 to $100,000 serves as significant psychological support. The resistance levels to watch are around $109,772 and $111,277, with stronger resistance at $113,453 and the $114,000-$116,800 area.

Additionally, the cryptocurrency market is highly volatile; for instance, on August 29, $13.9 billion worth of BTC and ETH options expired, which may lead to more severe short-term price fluctuations. Attention should also be paid to the overall sentiment in the cryptocurrency market, the performance of US stocks, as well as the impact of Federal Reserve policies and geopolitical macro news.

Wang Pang's operational advice: consider light long positions near $108,289-$108,419, targeting $109,089-$109,789. Lastly, it's worth noting that the market is unpredictable, and one must prepare defensively to preserve capital for future opportunities. #BTC☀