According to BlockBeats news on August 20, analysts stated that the price movement of Bitcoin increasingly resembles a result of intentional manipulation, as BTC has reached its lowest level since August 3 under sustained selling pressure in the U.S. Bitcoin fell below $113,000 at the opening of the U.S. stock market today, failing to maintain support. The buy order liquidity on the trading platform is being consumed, and $112,300 has now become a level worth paying attention to.
Well-known trader Daan Crypto Trades summarized the current Bitcoin liquidity situation, stating that BTC has cleared a significant amount of liquidity from both bulls and bears during the past 6 weeks of fluctuations. Currently, the most substantial liquidity is concentrated around $120,000, and of course, the local range low of $112,000 is still valid and often becomes a local reversal area.
Well-known trader and analyst Rekt Capital has issued a positive signal, comparing the current price movement to previous bull market pullbacks. 'The most positive aspect of the current pullback is that similar pullbacks also occurred at the same cycle moments in 2017 and 2021. In 2017 and 2021, these pullbacks indicated a price increase to new historical highs.'
