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Bitcoin medium term trend analysis:
1) The price dropped to around 110,000 before and after August 15, inducing short positions, liquidating approximately 2 billion in long positions, and then rising again;
2) It is estimated that around August 25, Bitcoin will once again confirm the low point of 112,000, forming a small head and shoulders bottom reversal structure, and breaking through the upper boundary of this descending channel;
3) Around August 28, a new round of upward trend will start, with a target price near 138,000.