💣 Rebound Rejected — BTC Price Action Signals More Pain Ahe
koinmilyoner
Updated at: 7 hours ago
{"content":"💣 Rebound Rejected — BTC Price Action Signals More Pain Ahead
Bitcoin is dropping below $113,000. BTC may go below $110,500 as it struggles to rebound.
Bitcoin began a rebound from $108,750.
The price is below $112,500 and the 100-hour SMA.
BTC/USD broke above a negative trend line with resistance around $111,350 on the hourly chart.
If it breaks $113,000 barrier, the pair may rise again.
BTC Price Tries Rise
Bitcoin lost further after closing below $112,000. BTC fell below $111,500.
Below the $110,500 support zone and 100-hourly Simple moving average. They tried $108,750. Recently, the price began recovering from a low of $108,734. Price rose beyond $112,000.
The price broke the 23.6% Fib retracement barrier of the $117,354 swing high to $110,734 low dip. On the hourly BTC/USD chart, a negative trend line with resistance around $111,350 was broken.
Bitcoin has fallen below $112,500 and the 100-hour SMA. Near $112,500 is immediate upward barrier. First important barrier is approaching $113,000, the 50% Fib retracement level of the main slide from $117,354 swing high to $110,734 low. The next hurdle may be $114,000.
A closing above $114,000 barrier might boost prices. Should the price climb, it might challenge $115,000 barrier. More advances might push the price toward $115,500. The goal may be $116,500.
Another BTC Drop?
Bitcoin may fall if it fails to break $113,000 barrier. Near $110,600 is immediate support. Near $109,500 is the first substantial support.
Around $108,750 is the next support. More losses might push the price toward $107,100. BTC may go below $105,500, the primary support.
The technical indications
Hourly MACD - MACD is falling in the negative zone.
Relative Strength Index hourly BTC/USD RSI is below 50.
Major Support Levels: $110,600, $109,500.
Major Resistance Levels: $112,500, $113,000.
#BTCWhalesMoveToETH #SOLTreasuryFundraising #SwingTradingStrategy #Write2Earn $BTC $ETH $XRP ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025082025/08/28/d741b5d4013d483584c3aad2ebcb4813.png"],"tags":[],"tradingPairs":["ETH/USDT"],"quotearticleid":0}