_Wendy
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Bitcoin Price Watch: Will Bitcoin Break the $112K Barrier or Drop to $108K?
Bitcoin remains under pressure on August 27, trading at $111,036 with signs of short-term accumulation but a weak overall trend. The market capitalization of the leading cryptocurrency stands at $2.21 trillion, while the 24-hour trading volume reaches $39.66 billion, with a daily range from $109,526 to $112,279.
Bitcoin
The hourly chart reflects a short-term bullish recovery, with bitcoin bouncing back from $108,717 and briefly touching $112,400. The bounce is supported by a surge in volume on upward moves, indicating buyer interest and potential accumulation below $112,000. Price movements are consolidating just below this resistance level. Traders monitoring daily setups should watch for a breakout and retest above $112,400 for long positions targeting $114,000 or higher. Conversely, a bearish engulfing rejection at this level may provide short selling opportunities back to $110,500 or even $109,000.
Bitcoin
The hourly chart reflects a short-term bullish recovery, with bitcoin bouncing back from $108,717 and briefly touching $112,400. The bounce is supported by a surge in volume on upward moves, indicating buyer interest and potential accumulation below $112,000. Price movements are consolidating just below this resistance level. Traders monitoring daily setups should watch for a breakout and retest above $112,400 for long positions targeting $114,000 or higher. Conversely, a bearish engulfing rejection at this level may provide short selling opportunities back to $110,500 or even $109,000.
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BTC
110,173.01
-2.79%