Bitcoin Analysis on August 16, #加密市场回调 2025

Today, Bitcoin fell from a high of $117,900 to around $117,300, a decline of over 0.6%. Why did it drop? Mainly due to short-term traders taking profits and technical indicators showing a correction signal, the market seems a bit unsustainable.

Key Positions for Bitcoin in the Short Term

Upper Resistance: $119,000 to $120,000 is strong resistance, difficult to rise before breaking through.

Lower Support: Weak support: $116,500 (tested repeatedly today; if broken, the risk increases significantly) Strong support: $115,000 to $116,000 (institutional cost area, may trigger a rebound) $BTC