Analysis of BTC Market Trends and Strategy Recommendations on August 23

The market usually fluctuates relatively gently on weekends, so we might as well plan our trading strategy in advance. When the price retraces, we can consider positioning for a short-term long. Pay close attention to the resistance level around 117200 points above, while looking towards the support level around 116500 points below.

Since the market surged last night, the price is currently fluctuating around 116800 points. Overall, the main strategy remains to go long at low levels. However, if the upper resistance level is difficult to break through, one may also consider going short. The specific range can be flexibly managed based on individual circumstances; if you feel that the profit margin is limited, choosing to temporarily observe and rest is also a good option.

Individual long position suggestion: You can enter long in the 115700 range, with target prices set at 116500 - 117000, while setting 115500 as the defense point.