Bitcoin has recently been caught in a weak consolidation phase, with the market's downturn intensifying yesterday, especially after a sharp drop in the early morning. This not only broke previous lows and retraced earlier gains, but also heightened market concerns about future trends. In the early session, the price slightly rose to 115645 before facing resistance and falling back. Throughout the day, the market maintained a weak consolidation, with a dull tug-of-war between bulls and bears, and limited price fluctuations. At the beginning of the evening session, the price dropped to the support level of 114500 and then briefly rebounded to 114899, but the rebound lacked strength and quickly retreated again. Later, the market experienced violent fluctuations, with the price plummeting straight down to 110463. After the support at this level was confirmed, a rebound began, and it has now risen to 113500. The drop in the early morning exceeded 4000 points, significantly impacting market sentiment. Currently, Bitcoin is hovering near the low of 110500 but has not broken through, remaining in a weak oscillation. From a technical perspective, the daily chart shows another bearish candle, with the overall range slowly descending, further confirming the weak pattern. It is important to note that although the current market conditions represent a technical adjustment after a sharp decline, they do not signal stabilization. In the short term, price fluctuations will continue in a tug-of-war between bulls and bears, and the bearish pattern is unlikely to change quickly. In the future, attention should be paid to the defense of the key support level of 110500 and the momentum of subsequent rebounds. Investors are advised to operate cautiously and avoid entering the market blindly.
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BullAndBearBattle
· 08-25 02:29
Sit tight and hold on, we are about to To da moon 🛫
#Token of Love广场打CALL赢门票# #美联储7月会议纪要# #加密市场反弹#
Bitcoin has recently been caught in a weak consolidation phase, with the market's downturn intensifying yesterday, especially after a sharp drop in the early morning. This not only broke previous lows and retraced earlier gains, but also heightened market concerns about future trends. In the early session, the price slightly rose to 115645 before facing resistance and falling back. Throughout the day, the market maintained a weak consolidation, with a dull tug-of-war between bulls and bears, and limited price fluctuations. At the beginning of the evening session, the price dropped to the support level of 114500 and then briefly rebounded to 114899, but the rebound lacked strength and quickly retreated again. Later, the market experienced violent fluctuations, with the price plummeting straight down to 110463. After the support at this level was confirmed, a rebound began, and it has now risen to 113500. The drop in the early morning exceeded 4000 points, significantly impacting market sentiment. Currently, Bitcoin is hovering near the low of 110500 but has not broken through, remaining in a weak oscillation. From a technical perspective, the daily chart shows another bearish candle, with the overall range slowly descending, further confirming the weak pattern. It is important to note that although the current market conditions represent a technical adjustment after a sharp decline, they do not signal stabilization. In the short term, price fluctuations will continue in a tug-of-war between bulls and bears, and the bearish pattern is unlikely to change quickly. In the future, attention should be paid to the defense of the key support level of 110500 and the momentum of subsequent rebounds. Investors are advised to operate cautiously and avoid entering the market blindly.