Bitcoin bounced from $112.65K but was rejected at $114.6K, where thick ask orders formed resistance across multiple sell blocks.
The SuperTrend indicator flipped green, showing early bullish intent, yet buyers struggled to maintain momentum beneath prior breakdown zones.
Strong support remains between $113.8K and $112.2K, with defended bids and the SuperTrend flip zone reinforcing the bullish base area.
Bitcoin price action remains tight under the $115,000 level, with bulls showing signs of exhaustion just below strong overhead resistance. Despite a brief bounce, the market structure shows buyers unable to clear crucial short-term barriers.
Resistance Holds Below $115K as Ask Pressure Builds
On August 6, IT_Tech_PL reported that BTC rebounded from a local low of $112.65K into a red sell zone but failed to pierce the $114.6K resistance. The 15-minute Binance BTC-USDT footprint chart shows thick ask liquidity forming a ceiling just above current price levels.
https://twitter.com/IT_Tech_PL/status/1953004804319457367
The SuperTrend indicator has flipped green, yet the momentum appears to flatten just below resistance. Buyers have formed a sequence of higher lows since the recent bottom, but there’s clear hesitation near the breakdown level. The price currently trades around $114.2K, firmly stuck under a critical resistance zone extending to $115.8K.
The market structure indicates that only a 15-minute close above $114.6K would shift short-term momentum in favor of bulls.
Short-Side Risk Zones Keep Upside in Check
Sellers have created several overhead blocks between $114.6K and $116.5K. The first ask shelf sits between $114.6K and $114.9K, while previous distribution levels at $115.4K to $115.8K add more resistance pressure. A low-volume gap above $116.5K could open quickly if reclaimed, but it remains out of reach for now.
Unless price action accepts above $114.9K, sellers are likely to remain in control. The footprint shows consistent ask liquidity, suggesting reluctance among buyers to chase price above resistance. Without strong bids, the path upward remains limited, especially as bulls have yet to clear the first supply wall.
Support Base Firm at $113.8K to $112.2K Range
The downside features layered support zones, with the nearest bid stack sitting between $113.8K and $113.5K. This area has held twice, reflecting short-term buyer interest. Below this, $113.0K serves as a mid-range cushion, while the $112.65K–$112.2K area marks the capitulation base.
This lower zone is also where the SuperTrend flipped, adding technical weight to its support function. If price fails to hold above $113.8K, a retest of $113.0K or lower levels remains likely.
