Bitcoin (BTC) has shown weak performance recently, with the latest price at 115,228.5 USDT, a fall of 2.51% compared to the previous period. In the past 24 hours, the BTC price fluctuated between 118,558.0 USDT and 114,815.2 USDT, with a trading volume of 110,811.263 BTC, approximately 12.913 billion USDT.



In terms of technical indicators, the short-term moving averages show a downward trend, suggesting a bearish market in the near term. MA(7), MA(25), and MA(99) are located at 115,328.0, 117,113.5, and 117,894.0 USDT, respectively. The MACD indicator shows a DIF value of -703.7, a DEA value of -494.9, and a MACD value of -208.8, with the histogram below the zero axis and continuing to decline, indicating that the bearish momentum is still dominant.

It is worth noting that the RSI(6) indicator has dropped to 24.0, entering the oversold range. This may indicate potential rebound demand in the market, but investors should remain cautious.

From the perspective of support and resistance levels, 114,815.2 USDT (24-hour low) may become an important support in the near term. If this level is broken, it may further drop to previous lows. The upper resistance levels are located at MA(7), MA(25), and MA(99) in sequence.

Overall, BTC is currently in a downtrend, with a bearish bias in the short-term technicals. However, the RSI's oversold condition may present a short-term rebound opportunity. Conservative investors may continue to wait and watch for clear bottom reversal signals; aggressive investors may focus on the rebound after the RSI's oversold condition, but must strictly control risks and set reasonable stop-loss orders.

Regardless of the strategy employed, it is crucial to reasonably control positions and avoid overtrading in the highly volatile cryptocurrency market. Investors should closely monitor market trends and adjust their strategies promptly to respond to the rapidly changing conditions.
BTC-2.94%
MA-6.97%
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DiamondHandsvip
· 08-18 09:53
Gasping in shock, a hundred thousand years old suckers.
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OldLeekConfessionvip
· 08-18 09:45
Retail investors are always suckers!
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FlashLoanLordvip
· 08-18 09:32
It's another boring oscillation trend!
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