#BinanceHODLerTOWNS bull

Market Status & Technical Picture

• Bitcoin trades at $114,761.48 (-2.87% weekly), struggling after July's $119,788 peak

• Critical support established at $112,000 (aligns with 23.6% Fibonacci & 50-day EMA)

• Resistance zone: $117,000-$120,000 preventing further advances

• Technical indicators show bearish signals: RSI indicates 77.78% accuracy for downward momentum

Institutional & Regulatory Factors

• Strategy paused Bitcoin acquisitions in late July, removing key buying pressure

• US spot BTC ETFs recorded substantial $3.237B outflows, signaling profit-taking

• SEC launched "Project Crypto" and released interim stablecoin guidance with mixed market impact

• Positive counterbalance: Japan's Metaplanet added 463 BTC, raising holdings to 17,595 coins

Trading Considerations

• Watch $112,000 support level closely - breakdown could accelerate decline to $105,000-$100,000

• August historically shows market weakness - seasonal caution warranted

• Potential entry strategy: consider positions near $112,000 support with appropriate stop-losses

• Resistance at $117,000 serves as validation point - breakthrough would revitalize bullish outlook

Market Sentiment

• Community remains optimistic: 87.47% of posts bullish vs 12.52% bearish

• Bullish arguments center on corporate accumulation and support zones

• Bears highlight technical weakness, ETF outflows, and regulatory uncertainties

• Short-term direction depends on institutional activity and $112,000 support holding