Hodl tight, the rocket is fueling up!” 🚀🔥 Bitcoin Order Block at $112,000 – Strong Support for Next Major Rally.

Trump’s Tariffs Trigger Bitcoin Pullback to Key Order Block

The Kobeissi Letter reported that Trump imposed a massive wave of new reciprocal tariffs on Friday, including:

Switzerland: 39%

South Africa: 30%

🌏 Many Southeast Asian countries

These tariffs went live Friday at midnight (Aug 1), sparking short-term volatility and uncertainty across global markets.

Meanwhile, S&P 500 futures closed slightly lower, down 10 points, mostly due to Amazon’s weaker-than-expected earnings.

Bitcoin Market Structure

BTC hit an all-time high of $123,218 on July 14 after breaking $119K resistance on July 25

This breakout created a key order block at $112,000

After the ATH, Bitcoin chopped in a tight range between $119K and $115K

Trump’s tariff announcement on Friday triggered a breakdown below the range, and now price is approaching the $112K order block and trendline support

This retest zone is crucial — it combines trendline support, old resistance turned support, and the major order block.

Bitcoin is retesting $112,000, which I believe will act as the launchpad for the next major move.

✅ Trendline support is holding

✅ $112K order block remains strong

✅ Old resistance has flipped to support

📊 My Outlook:

From this zone, Bitcoin has the potential to reverse and break above $123,218, heading towards:

🎯 $150,000 initial target

🎯 $200,000 if momentum continues

A small wick/pin to $111,500 is possible to tap the trendline before the next bullish leg.

⚡ Trading Plan:

Watching $112,000 as the key support area

$111,500 is my final support / trendline tap

Above this zone, I expect major bullish continuation

Strong hands win — don’t miss this move!” 💎🙌

💬 Click on the chart to buy Bitcoin now — it’s not too late!

Good Luck