Bitcoin Sudden Drop – Is a 110K-111k (again) Retest Coming?
Date: August 3, 2025
Current Price: ~$113,800
24h Change: 0.88–1% decrease
Key Observations:
Rejection from $120K Resistance:
Bitcoin has dropped to around $113.8K after facing strong resistance in the $118K–$120K range. There are signs of weakness in the current uptrend.
Low-Volume Gap Between $111K–$115K:
According to CryptoQuant analysts, there was little trading activity in this zone during the rapid rally from July 9–14. Historically, such "low-volume gaps" often act as magnets, attracting the price back to fill them.
Key Support Zones:
$114K–$115K: Current trading range; short-term reaction is expected here.
$110K–$112K: Strong support area.
$105K–$108K: If selling pressure increases, this zone could be the next correction target.
Pattern Breakdown:
A rising wedge (a bearish pattern) has broken down. The short-term trend is now downward.
