Recently, the Bitcoin market has attracted widespread attention, and this article will conduct an in-depth analysis of the medium-term trend for the next month.

It is expected that in mid-August, the price of Bitcoin may experience a significant drop, reaching around 110,000. This trend is likely a market trap designed to liquidate about 2 billion of long positions. However, this drop is not a long-term trend but rather paves the way for a subsequent rebound.

Subsequently, around late August, the market may test the support level of 112,000 again. This period is worth close attention from investors, as a small head and shoulders bottom reversal pattern may form, breaking through the upper edge of the current descending channel, laying the foundation for subsequent market movements.

What is worth looking forward to is that a turning point may come around the end of the month. It is expected that around August 28, Bitcoin is likely to start a new upward trend. If this prediction holds, then the next important target price may be around 138,000.

It is important to remind that the cryptocurrency market is highly volatile, and investors should act with caution and manage risks effectively. At the same time, these predictions are for reference only; actual market trends may change due to various factors. Investors are advised to continuously monitor market dynamics and make informed decisions based on their own risk tolerance.