The old support at 112,700 USDT now acts as resistance.
The technical indicators confirm bearish momentum: negative MACD, neutral-to-weak RSI
ManuelRD
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Bearish
🔥🌋🔥🌋
Bitcoin decisively breaks below 112K Market Snapshot
• Dropped to 111k USDT, with a 1.41% decline in 24 hours
• The critical support at 112,700 USDT has been breached
• 24-hour range: 110,680-114,790 USDT
• Significant liquidation event: Over 3 billion dollars in long positions liquidated
• Technical structure: The break of the ascending wedge pattern signals a potential drop to 88K USDT
• Macroeconomic uncertainty: The Federal Reserve symposium in Jackson Hole is causing market jitters
• Whale pressure: A recent transaction of 24,000 BTC is accelerating the drop
• Regulatory changes: Trump's proposal to allow cryptocurrencies in 401(k) plans generates mixed sentiment
#FamilyOfficeCrypto
#CryptoRally
#BTC
$BTC
Bitcoin decisively breaks below 112K Market Snapshot
• Dropped to 111k USDT, with a 1.41% decline in 24 hours
• The critical support at 112,700 USDT has been breached
• 24-hour range: 110,680-114,790 USDT
• Significant liquidation event: Over 3 billion dollars in long positions liquidated
• Technical structure: The break of the ascending wedge pattern signals a potential drop to 88K USDT
• Macroeconomic uncertainty: The Federal Reserve symposium in Jackson Hole is causing market jitters
• Whale pressure: A recent transaction of 24,000 BTC is accelerating the drop
• Regulatory changes: Trump's proposal to allow cryptocurrencies in 401(k) plans generates mixed sentiment
#FamilyOfficeCrypto
#CryptoRally
#BTC
$BTC
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