The Bitcoin market is showing strong volatility today. Traders need to closely monitor the key resistance level at $116,000 and the important support level at $112,000.



For bearish investors, it is recommended to consider entering the market in the range of $115,300 to $116,000, with target prices set at $113,600 to $113,200, or lower at $112,600 to $112,300. If the price breaks above $116,300, a stop-loss should be executed promptly.

Bullish traders can look for buying opportunities in the range of $112,300 to $113,000 (close to $111,900), with a target price of $115,000 to $115,700. If the price falls below $111,600, it is recommended to exit the position.

The overall strategy should revolve around the range of $116,000 to $112,000. Regardless of the trading direction chosen, strict stop-loss strategies should be implemented. Pay special attention that if the price breaks above $116,000 or drops below $112,000/$111,900, the market may undergo significant changes, and the strategy needs to be reassessed.

In this highly volatile market, risk management is crucial. Investors are advised to remain vigilant at all times, closely monitor market trends, and adjust their trading strategies promptly based on the latest price movements.
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rekt_but_not_brokevip
· 08-08 11:34
Don't say anything, bullish traders are getting ready to run.
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PebbleHandervip
· 08-07 08:51
You've made me laugh, just this little space going back and forth.
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gas_fee_therapistvip
· 08-07 08:51
Once we hit the bottom, someone shouts top, it's ridiculous fam.
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PerpetualLongervip
· 08-07 08:31
Full Position now, it's all bearish traders causing trouble. We will fight to the end.
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ValidatorVibesvip
· 08-07 08:24
validating market signals... tbh these resistance levels lack consensus legitimacy w/o proper onchain governance
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