Trading$BTC At $110,975 after an 11% correction from its all-time high (ATH) of $124,457
The price finds support at the critical level of $110,500 despite continued outflows from ETFs for six days
Technical indicators show the RSI declining, approaching the oversold area while the long-term buy-to-sell ratio remains above 60%
Bitcoin dominance is 57.64% with altcoins rising by 3.06% during the correction experienced by Bitcoin
Key Factors
A technical breakdown from the ascending triangle pattern led to the liquidation of $900 million in positions
Sentiment varies by region: positive in the Americas (+1,872.71) versus bearish signals in Europe/Asia
Net flows on August 25-26 indicate the beginning of strategic accumulation
Institutional buyers continue to accumulate Bitcoin despite short-term volatility
Strategic Opportunities
The current price is testing the critical support area of $110,500, which may halt the decline
A breakout above $113,000 could regain momentum towards resistance at $117,500
It is recommended to place stop-loss orders below the level of $110,000, targeting an exit near $117,000-$120,000
Altcoins are currently outperforming, opening opportunities in the parallel market if Bitcoin stabilizes
