The Bitcoin market has once again attracted the attention of investors. Currently, the BTC trading price is 116,765.22 USDT, down 3.81% from yesterday, suggesting that the market may face a short-term adjustment.

From the chart analysis, the medium to long-term trend line remains upward, but the recent price has retreated from the high point and is approaching the moving average support level. It is worth noting that around August 18, BTC reached a high of about 118,000 USDT, followed by a pullback, accompanied by a significant increase in trading volume, which may reflect that some investors chose to take profits or that market sentiment has become more cautious.

In terms of trading volume, there has been active trading during recent price increases, but as the price has fallen, trading volume has weakened, which may indicate that the market is entering a correction phase. Technical indicators show that the current price is close to the 7-day and 29-day moving averages, with the 116,000-116,500 USDT range likely becoming important short-term support.

Although the specific value of the Relative Strength Index (RSI) is not provided, from the price fluctuations, BTC may be in a neutral to weak state in the short term. For investors, the recent key support level is around 116,000 USDT, while the resistance level may appear in the range of 118,000-119,000 USDT.

In general, although Bitcoin may face some adjustment pressure in the short term, the market remains relatively optimistic from a medium to long-term trend perspective. Investors need to closely follow market dynamics, especially the price performance near the current support level and the changes in trading volume, as this will provide important clues for judging the future market direction.