Bitcoin (BTC) recent trends are attracting attention. On August 17, the BTC price hovered around the support level of $116,800 at the 12-hour EMA, with investors closely monitoring whether there will be an effective fall below this level.

From a technical perspective, the 2-hour level shows an invisible downtrend, while the 1-hour level exhibits signs of a rebound. Investors need to closely follow the key price levels below:

Support level below:
- 116,400 USD
- 115,700 USD
- 114,800 USD

Resistance level above:
- 118,062 USD
- 119,000 USD
- 119,800 USD

In terms of market sentiment, the BTC long to short ratio is 1.28, with a real trading long to short ratio of 63:37. The overall network long to short ratio is 46:54, indicating a slight advantage for the short side. At the same time, the market fear index is 64, which is in a slightly fearful range.

For trading strategies, it is advisable for investors to remain cautious and wait for clear patterns to emerge before taking action. At the same time, setting reasonable stop-loss levels is key to risk management.

The market is ever-changing, and investors should remain vigilant, continuously follow market trends, and adjust strategies in a timely manner. Before making any investment decisions, it is essential to conduct thorough research and analysis.