The Bitcoin market is at a critical turning point, and this month's Closing Price will be an important indicator for assessing the short-term trend. Analysis shows that if Bitcoin fails to stay above $118,000 by the end of the month, it may confirm a short-term fall trend. In this case, at the beginning of August, Bitcoin prices may dip to $112,000 and could even reach the $110,000 level.

However, the market is not entirely pessimistic. If Bitcoin can show strong rebound momentum and close above $120,000 by the end of the month, it will break the current downward expectations and may trigger a new wave of upward momentum.

Given the current market uncertainty, traders should be prepared for price fluctuations. In the absence of clear trend confirmation, the market is expected to continue exhibiting a volatile stance. It is noteworthy that in the new month, the downside risk may dominate market sentiment.

For investors closely watching the Bitcoin trend, breakthroughs or support at key price levels will be important signals to validate market trends. During this volatile period, it is especially important to maintain vigilance and a flexible trading strategy.

Overall, the Bitcoin market is at a delicate balance point. The price movements in the coming weeks will provide important guidance for market participants. Whether bullish or bearish, investment strategies need to be adjusted based on actual price performance.