Bitcoin falls below previous support, institutions predict it may retest the $112,000 level.

On August 18, a certain institution released the latest research report stating that Bitcoin failed to hold the downward trend line, which initially signaled a breakout but has recently fallen below the previous support. While there is no excessive concern about further downside risks, due to the market remaining cautious ahead of the Fed's September interest rate decision, the price of Bitcoin may once again test the $112,000 level.

The institution does not expect this year's Jackson Hole meeting to release any substantial signals, as it is often more of a discussion platform rather than a market driver. Currently, the market is waiting for a real catalyst, and the Fed's interest rate meeting on September 17 is the most critical event.

From a technical perspective, Bitcoin is currently in a "no man's land" between $112,000 and $117,292. This leaves traders with two clear strategies: if the price breaks upward, then follow with a buy; if the price falls close to $112,000, then buy on dips. In other words, the market is in a wait-and-see phase, waiting for a clearer direction.

BTC-1.02%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Repost
  • Share
Comment
0/400
RugResistantvip
· 12h ago
red flag detected, potential dump incoming... need to run deeper analysis tbh
Reply0
GateUser-bd883c58vip
· 12h ago
Only 110,000 dollars is called a fall, then am I not making a killing?
View OriginalReply0
CommunityLurkervip
· 13h ago
Sigh, it's about to hit the bottom again.
View OriginalReply0
RamenDeFiSurvivorvip
· 13h ago
Another fall, it's meaningless.
View OriginalReply0
PriceOracleFairyvip
· 13h ago
bruh... this inefficiency gap between 112k-117k is literally screaming arb opportunity rn
Reply0
OfflineValidatorvip
· 13h ago
Rise and fall don't matter, I went all in a long time ago.
View OriginalReply0
VibesOverChartsvip
· 13h ago
If it falls, then let it fall, just keep buying the dip.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)