Bitcoin
Oscved nearly $ 118,348 on Sunday, up 0.39% in 24 hours, because two analysts described paths that could test the traders’ nerves: a drop to $ 108,000 to $ 112,000 or a range established with space for altcoins.
Lark Davis maintains that if Bitcoin continues to slip, the most likely landing area is $ 108,000 to $ 112,000. This range served as a ceiling earlier this year when the Bitcoin rally has stalled and in market psychology, the levels that once blocked the price often go to support when revised.
He stresses that this area is also aligned with two conventional withdrawal control points called Fibonacci retractions at 50% and 61.8%. These measures, drawn in the size of the last Bitcoin rally, are widely monitored because they often mark where taking advantage slows down and new purchases are emerging. While the Fibonacci ratios seem mathematics, in practice, they work as self-realizing markers because many traders plan entries.
Davis also highlights the 20 -week exponential mobile average, a trend line that is quickly updated with recent prices action. When this line increases in the same area from $ 108,000 to $ 112,000, it strengthens the case of support, because technical traders see both history and dynamics in a single area.
When several signals come together like this – the resistance has transformed the support, the Fibonacci control points and an average up – the tramers call it “confluence” and the confluence areas often act as magnets for price tests.
In other words, Davis does not predict the collapse but a healthy reset. Its framework suggests that if Bitcoin plunges, buyers could intervene in this band and feed the next leg.
Michaël Van de Poppe takes a different angle, noting that Bitcoin has just been rejected at a level of key resistance near its recent tops. A rejection means that the sellers absorbed the request while the price has tried to depart, a common signal that the momentum must cool before the next push. It expects the market to consolidate rather than the trend, the bitcoin moving laterally between a floor and a ceiling during the resets of the lever effect.
The tradingView table that he shared underlines. He has shown that Bitcoin was attempted at the top of his beach but will not hold over the resistance. The candles formed wicks – prison peaks that quickly faded – suggesting that the sale pressure was active near the summits. Below, the graph has marked a potential support area, where Van de Poppe thinks that Bitcoin could find a base before another attempt to break.
For Van de Poppe, the message does not concern deep retrace but time. A side range would give the market breathing room, would erase the outdated positions and prepare the ground for the next movement. He would also open the door to rotation in altcoins, which often surpasses when bitcoin stops the trend.
This rotation, he suggests, could already brew. Once Bitcoin stabilizes, traders generally look for higher yields in large altcoins such as ether before spreading to smaller chips. Altcoin rallies rarely start while Bitcoin is in free fall, but they often take momentum when btc ranges and volatility are cooling.
In clear terms, the two analysts describe different but compatible textbooks. Davis promotes a deeper withdrawal in a support cluster that could refresh the upward trend, while Van de Poppe sees a pause linked to the beach with a potential for altcoins to shine.
For everyday readers, the control list is simple: look if the bitcoin is negotiated aside or dives into the $ 108,000 area at $ 112,000. In both cases, analysts agree that the broader framework of the Haussier market remains intact, but the path to follow could be very different depending on how support and resistance take place in the coming weeks.
Strengths of technical analysis
- According to the Technical Analysis Data Model of Coindesk Research, Bitcoin showed upotive force in the 24 -hour window of August 16, 3:00 p.m. UTC to August 17, 2:00 p.m. UTC, going from $ 117,847.02 to $ 118,485.32, a gain of 1%.
- Support formed nearly $ 117,261.72 at the beginning of August 17, followed by a break greater than $ 118,000 with an average volume of 2,848.15 BTC during the gatherings at 4:00 a.m., 08:00, 9:00 and 1:00 UTC.
- In the last hour from August 17, 13: 17-14: 16 UTC, Bitcoin went from $ 118,165.31 to $ 118,397.67, including a net decision at 13: 51–13: 52 UTC when the price went from $ 118,417.23 to $ 118,604.10 out of 679.81 BTC of volume.
- This decision set a short -term resistance around $ 118,600 before consolidating nearly $ 118,400, leaving the potential of the increase after cooling.
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