8.21 afternoon BTC:

Currently, there is a battle between bulls and bears, with the bulls under pressure and the bears still holding a dominant advantage, operating within a clear bearish structure overall.

The rebound highs are gradually decreasing, and the market has consistently failed to effectively break through the bullish momentum of the previous low, indicating insufficient buying power and a gradual weakening of bullish momentum.

At the same time, the price is gradually approaching the key support area of the recent low, and the downward target is about to be reached.

The four-hour level shows that after a wave of rebound, the market is presenting a state of stagnation. The middle line of the Bollinger Bands, acting as an important resistance zone for the bullish rebound, has still not been broken, and the middle line continues to move downward. Therefore, overall, the trend will still rely on the bearish operation.

Around 114100 to 114350 is empty, focus on the target 112280.
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