Bitcoin
Hovered near $ 118,348 on Sunday, an increase of 0.39% in 24 hours, when two analysts outlined trails that could test reseller nerves: a dip against $ 108K – $ 112K or a extracted interval with space for altcoins.
Lark Davis claims that if Bitcoin continues to slip, the most likely landing zone is $ 108,000- $ 112,000. This interval served as a ceiling earlier this year when Bitcoin’s rally stopped, and in market psychology, levels that once blocked the price often turn to support when revised.
He emphasizes that this area is also in line with two classic withdrawal check points known as 50% and 61.8% Fibonacci retracs. These measures drawn from the size of Bitcoin’s last rally are broadly monitored because they often mark where profit -taking brakes and new purchases come. While Fibonacci conditions sound mathematical, they work in practice as self-fulfilling markers, as many traders are planning items there.
Davis also points to the 20-week exponential sliding average, a trend line that is quickly updated with the recent price action. When this line rises into the same $ 108K -$ 112K area, it strengthens the case for support because technical dealers see both history and momentum meeting in a zone.
When more signals cluster like this – resistance turned support, Fibonacci control points and an increasing average – calling traders it “crashes” and collapsing zones often act as magnets for price trials.
In other words, Davis does not predict collapse, but a healthy reset. His frames suggest that if Bitcoin dips, buyers could step in around this band and burn the next leg higher.
Michaël van de Poppe takes a different angle and notes that Bitcoin was just rejected at a key resistance level near its recent heights. A rejection means that salespeople were absorbing demand as the price tried to break out, a common signal that Momentum should cool off before the next push. He expects the market to consolidate rather than trend, with bitcoin moving sideways between a floor and a ceiling while leverage reset.
The TradingView diagram he shared emphasizes this. It showed Bitcoin, who made repeated attempts at the top of its reach but fails to hold over resistance. The candles formed wicks – price tips that quickly faded – which suggested that the sales pressure was active near the heights. Below, the chart marked a zone of potential support, where Van de Poppe believes Bitcoin could find a base before another breakout attempt.
For Van de Poppe, the message is not about deep retacement, but time. A sideways range would give the market breathing room, clear out over the overcoming positions and set the stage for the next movement. It would also open the door of rotation to Altcoins, which often surpasses when Bitcoin stops trending.
This rotation, he suggests, could already brew. When Bitcoin is stabilized, dealers typically seek higher returns in large altcoins like ether before spreading to less tokens. ALTCOIN rarely starts while Bitcoin is free, but they often gain momentum when BTC varies and the volatility cools.
In ordinary terms, the two analysts describe different but compatible playbooks. Davis favors a deeper withdrawal in a support cluster that could update uptrend, while van de poppe sees a range break with the potential for altcoins to shine.
For everyday readers, the checklist is simple: See if Bitcoin is trading sideways or dips for $ 108K -$ 112K zone. In both cases, analysts agree that the wider framework for the bull market remains intact, but the path forward may look very different depending on how support and resistance play out in the coming weeks.
Technical analysis highlights
- According to Coindesk Research’s technical analysis data model, Bitcoin showed the Bullish strength in the 24-hour window from August 16, 15:00 UTC to August 17, 14:00 UTC, increased from $ 117,847.02 to $ 118,485.32, a gain of 1%.
- Support formed nearly $ 117,261,72 early on August 17, followed by a break over $ 118,000 with a higher volume than the average of 2,848.15 BTC during competitions at 1 p.m. 04:00, 08:00, 09:00 and 13:00 UTC.
- In the last hour from August 17, 13: 17–14: 16 UTC, Bitcoin climbed from $ 118,165.31 to $ 118,397.67, including a sharp feature of 13: 51–13: 52 UTC when the price was excited from $ 118,417.23 to $ 118,604.10 on 679,81 BTC of volume.
- The move set short -term resistance around $ 118,600 before consolidating nearly $ 118,400, leaving the potential for additional upside after cooling.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
