Oh, Bitcoin, thou fickle muse of the digital age, dost thou dance below the $112,000 threshold, a bear in sheep’s clothing, struggling to rise from thy slumber. Might thou plummet further, beneath the $108,000 abyss? The stars, it seems, are not aligned in thy favor. 🌪️
- Behold, Bitcoin hath embarked on a fresh decline, slipping below the $112,550 zone, like a leaf in the autumn wind.
- Lo, it trades beneath $111,000, and the 100 hourly Simple moving average, a shadow of its former self.
- A bullish trend line, once thy steadfast companion, hath been broken, with support at $108,450 on the hourly chart of the BTC/USD pair (courtesy of Kraken). Alas, a harbinger of doom?
- Should it breach the $108,000 support, another decline may commence, a tragic fall from grace. 😢
Bitcoin, oh Bitcoin, thou didst attempt a recovery from the $107,352 low, climbing above $108,000 and $108,500, like a phoenix from the ashes. Thou cleared the 23.6% Fib retracement level, a fleeting victory. Yet, the bears, ever vigilant, halted thy ascent at $109,500, and now thou descendest once more, below $109,000. 🦅→🐻
The trend line, once thy shield, is shattered, and thou tradest below $109,000 and the 100 hourly Simple moving average. Resistance looms at $109,400, a formidable foe. The first key resistance, $110,000, stands tall, followed by $110,500, or the 50% Fib retracement level. Should thou surpass $110,500, the heavens might open, and thou couldst test $112,000, or even $112,500. The ultimate prize? $113,500. But alas, such dreams are fleeting. 🌟
Yet, if thou failest to conquer $110,500, a fresh decline may ensue. Support awaits at $108,000, then $107,400, and further still at $106,500. Should thou falter, $105,500 beckons, and the abyss of $103,500 looms large. Below that, a sharp decline awaits, a fall from which thou mayst not recover. 🌀
Technical indicators:
Hourly MACD – The MACD hastens into the bearish zone, a grim portent. 📉
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD lingers below 50, a sign of weakness. 😔
Major Support Levels – $107,400, followed by $106,500, thy last lines of defense. 🛡️
Major Resistance Levels – $109,500 and $110,500, thy formidable adversaries. ⚔️
Oh, Bitcoin, thy path is fraught with peril and promise. Will thou rise like a comet, or fall like a stone? The world watches, breath held, as thou dancest on the edge of destiny. 🎢
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2025-09-01 05:32