0818 Bitcoin rebound faces numerous difficulties, and may have already turned bearish in the medium term, fearing a deeper dip seeking $110,000 support.

0818 Bitcoin market report ❤️❤️

After reaching a historical high, Bitcoin has undergone a deep correction, showing a breakdown in the technical aspect and a bearish dominance. Currently, it continues the correction trend of the past two days. Breaking the high volatility pattern, Bitcoin is now trying to rebound and stabilize around the $115,000 mark. Traders are generally betting on a rate cut in September, but the prevailing complacency in the market may mask potential risks.

After a continuous five-day correction, the Asian session saw prices further dip to $114,700. Ahead of the Jackson Hole conference speeches, market volatility has significantly decreased, leading to a cautious sentiment. Bitcoin failed to recover the psychological level of $118,000 yesterday, indicating that bears launched a full-scale attack at the critical support level of $116,000. After breaking this level, it triggered programmed sell orders, causing the price to directly fall into the $115,000 range. If it cannot quickly recover to $116,000, it may open a downward channel targeting $110,000. Short-term indicators show that selling pressure has eased, but bullish strength has not yet recovered, limiting rebound momentum. The EMA7(117800 ($) and EMA(115200 ($) have formed a death cross. After the price fell below EMA7, the rebound was weak, indicating a mid-term trend shift to bearish. The current price has reached the short-term support area of $115,000, and long-term upward potential requires a resonance of policy and capital to be released. Current data shows that over 25,000 new BTC have been transferred and are sitting in exchanges. If there is no new buying power to support them, it may trigger a chain liquidation in the short term. The only good news is that the current correction is more due to profit-taking rather than a trend reversal. Summary: The short-term direction depends on the strength of the rebound at the resistance level of $116,000. If it breaks through $116,000 with volume and stabilizes at that position, it may initiate a counterattack towards the $118,000 target. Conversely, if it breaks down, it may initiate a technical correction, confirming the bearish trend. It is advisable to focus on breakthrough signals in the $114,000 - $116,000 range, and to follow the trend after a breakout.

✅✅Trading Suggestions: 1. If the price continues to hold above $115,000 and breaks through the resistance at $116,600, the target is $118,500, with a stop loss set below $114,500; 2. If it falls below $114,500, then follow the trend and enter a short position, with a stop loss at $115,500 and a target of $113,000-$110,000; 3. For short-term (intraday) trading, if it has not broken the levels, you can take advantage of high sell and low buy within the range of $114,700-$116,200.

Special Reminder: This article is for readers' reference only and should not be used as a basis for investment!!!

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