Bitcoin just dipped to a 17-day low before bouncing back, shaking out short-term traders. But to me, this looks far from over. With liquidity clusters forming around $110K and the Jackson Hole Fed event right around the corner, BTC is at a make-or-break point.
🔎 Key Levels I’m Watching
BTC slipped under $113K, and I see the $111K–$113K zone as a potential accumulation area.
Some analysts expect a sweep toward $111K or even a liquidity grab below that before a bounce.
The real line in the sand is $110K, backed by the 100-day SMA. If broken, the next defense zones sit at $105K and $100K (200-day SMA).
📊 Liquidity Magnet Effect
According to CoinGlass, there’s $110M+ in bid orders between $111K–$110K. Big players are waiting.
Liquidity works like a magnet — price often hunts these clusters before finding direction.
On the flip side, major ask orders are stacked at $116K–$120K, where a breakout could trigger a short squeeze.
🌍 Macro Pressure
This all lines up with Powell’s Jackson Hole speech. Any hint on interest rates can send global markets — including Bitcoin — into wild swings. BTC isn’t moving alone, it’s reflecting macro sentiment.
💡 Market Psychology
The $110K zone matters as much psychologically as technically. Traders remember past bounces there, so dip buyers could step in hard. But if everyone is eyeing the same level, the market loves to fake them out with a sweep lower before ripping higher.
📈 Bullish Path
For bulls, reclaiming $116K–$120K as support is the key. That flip would open the door to retest ATHs near $124,500.
🪙 My Take
Bitcoin right now is less of a straight run and more of a chess match. Liquidity zones below $112K and above $116K are in play, and I expect both to get tested before the next trend is confirmed.
For long-term holders, this volatility = opportunity.
For short-term traders, it’s a reminder that liquidity runs the show.
