Bitcoin (BTC) has shown strong performance recently, but market analysis indicates that the likelihood of a direct breakthrough of $138,000 in the short term is low. According to the latest market dynamics and capital flow studies, a significant adjustment is likely to occur in early September.

This expected pullback may first push the BTC price towards around $105,000. If the adjustment continues to deepen, we may see the price further decline to the $93,000-$95,000 range.

However, this potential price pullback should not be viewed as a negative signal; rather, it may provide investors with an excellent buying opportunity. From a medium to long-term perspective, $138,000 remains a reasonable target price.

It is worth noting that although short-term volatility may pose challenges for some investors, such adjustments are crucial for maintaining the healthy development of the market. They not only help to digest the previous gains, but also accumulate strength for the next round of increases.

For investors looking to enter the market, it would be wise to closely monitor the upcoming market trends in September. If the anticipated correction does occur, it may open a relatively safe entry window, preparing for potential future increases.

Overall, although there may be some fluctuations in the short term, the medium to long-term outlook for Bitcoin remains optimistic. Investors should stay vigilant, manage risks appropriately, and not miss potential investment opportunities.