Bitcoin’s Wild Ride: Will It Crash or Soar? Find Out Now! 🚀💰

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Key takeaways:

  • Ah, the ever-elusive Bitcoin volatility! It seems to be preparing for a grand performance ahead of Fed Chair Powell’s speech on Friday. 🎭

  • Analysts, those wise sages of the market, proclaim that Bitcoin’s dip below $112,000 is a “great entry” opportunity for traders. Because who doesn’t love a good bargain? 🛒

  • But beware! BTC price may plummet to a disheartening $110,000 if key support levels decide to play hide and seek. 😱

Bitcoin (BTC), that capricious creature, has been trending downward, much like a sad poet, since August 14, reaching a 17-day low below $112,500 on Wednesday. With the much-anticipated Jackson Hole speech from Federal Reserve Chair Jerome Powell looming, we can expect the markets to dance chaotically toward key BTC price levels in the coming days. 💃

Bitcoin price key “accumulation” level sits near $112,000

Ah, the break below the $115,000 support level! Traders are now faced with the existential question of whether to add or reduce their exposure. A true dilemma worthy of Dostoevsky! 🤔

MN Capital founder Michael van de Poppe, our modern-day oracle, has spotted Bitcoin hovering at $113,700, declaring it a “potential area of interest for longs.” Because who wouldn’t want to be interested in a potential long-term relationship with Bitcoin? 💘

An accompanying chart, which I’m sure is more reliable than your average fortune teller, suggested that the area between the August low at $111,900 and the $113,000 psychological level is a key level to watch in BTC’s six-hour time frame. ⏳

A dip below this zone would provide traders with a “great” opportunity to buy more at a discount, van de Poppe said, adding:

“If we sweep the lows, that’s the most optimal area to buy those. Great area to accumulate.”

Similar sentiments were echoed by fellow analyst AlphaBTC, who, in a moment of clarity, suggested that Bitcoin’s price might revisit the monthly low at $111,980 before making a “bigger squeeze back up.” Because who doesn’t love a good squeeze? 🍋

📈#Bitcoin game plan 📈

Lower time frame, I’m looking for the monthly low to get run then a bigger squeeze back up.#Crypto #BTC

– AlphaBTC (@mark_cullen) August 20, 2025

Lower than that, $110,000 is an important level to keep an eye on, an area that has supported BTC price since July 10, according to trading firm Swissblock. It lies within a key demand zone defined by the 100-day simple moving average (SMA) at $111,000 and $105,000. A veritable safety net! 🛡️

As Cointegraph reported, Bitcoin’s key support level remains $100,000, which is embraced by the 200-day SMA and acts as the last line of defense for the bulls. A noble guardian indeed! 🐂

On the upside, Bitcoin must flip the area between $116,000 (50-day SMA) and $120,000 into support to secure the bull run. This would increase the chances of revisiting the all-time high above $124,500 or perhaps even higher, into the realms of price discovery. 🌌

Will liquidations drive BTC below $110,000?

Several traders, with the keen instincts of hawks, are eyeing a potential downward liquidity grab with bid orders extending to $110,000. 🦅

The latest data from monitoring resource CoinGlass showed price nibbling away at around $113,000, with the bulk of interest clustered below $112,000. More than $110.4 million bid orders were sitting between $111,000 and $110,000. A veritable feast for the hungry traders! 🍽️

To the upside, however, ask orders were building up, with the bulk of liquidations sitting between $115,800 and $118,100. If the $118,000 level is broken, it could spark a liquidation squeeze, forcing short sellers to close positions and driving prices toward $120,000, which is the next major liquidity cluster. A thrilling chase indeed! 🏃‍♂️💨

“The biggest cluster in close proximity now sits at around $120K and of course, the local range low at $112K is still in play,” said Bitcoin trader Daan Crypto Trades in an X post on X, adding:

“Keep an eye out of those areas as they often act as local reversal zones and/or magnets when price gets close to them.”

As CryptoMoon reported, increased selling by Bitcoin short-term holders could heighten the odds of BTC price dropping toward $110,000. A classic case of the market’s fickle nature! 🎢

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2025-08-20 19:14