A picture to understand tonight's strategy.

1: From a technical perspective

First, let's take a look at the technical aspect.
①The pressure level that has been suppressing the price for a long time above, and after reaching this position multiple times, it encountered resistance and fell back. Currently, the first line represents a key short-term resistance level.

②Adding the technical features of KDJ overbought (value reaches 85) and price rising with decreasing volume (weakening upward momentum), short-term rebounds may face corrective pressure.

2: From the perspective of market sentiment and environment
① Long-term holders still control 53% of the supply, and selling pressure needs new funds to support it; however, the market has been highly volatile recently (with a pullback at the start of August and over 110,000 people liquidated), and the risk of leveraged liquidation is high (breaking through or falling below key levels can easily trigger a chain liquidation).

② The market has too many KOLs placing 115000 as a key short-term support level. If it falls below 114000 USD, it may test the support range of 111000 - 112500 USD.

③ The US non-farm payroll data for July is weak, strengthening the market's expectation of a "Federal Reserve rate cut in September."

In summary, I am bearish on the overall direction for tonight.
Operating idea: Short at 114800 Stop loss: 115600 Target: Around 111000 (self) #比特币市场行情