Bitcoin trades nearly $ 11,000 during its August 14 -record, according to Coindesk -Data, but Falconx’s research manager says the market’s internal structure still looks “extremely bullish.”
In a post of X on Wednesday, analyst David Lawant pointed out what happens in Bitcoin’s order book – Live record for buying and selling offers on stock exchanges – when the price withdraws a little from heights.
He explained that after these little dips disappear and buy orders that quickly disappear orders, a dynamic that he described as the order book “Flipping” from the sales page to the bid page.
In general, lawyer says sellers do not stay around to push the market down after modest falls. Instead, strong demand almost immediately comes in and buyers quantities of sellers out.
This pattern suggests that long-term players with deeper pockets-such as institutions and well-capitalized funds users short downs as a shopping options. Instead of signaling weakness, the absence of sustained sales indicates confidence in Bitcoin’s prolonged lane.
Diagram’s lawyer’s shared forces this interpretation. It shows periods when Bitcoin slid slightly from record levels, only to buy orders to rapidly rise in front of sales orders.
This repeated shift towards the bid side is a hallmark of a bullish market structure as it shows that demand is waiting in the wings to absorb any supply that comes on the market. For dealers, takeaway is that Bitcoin’s resilience after dips points to strong underlying support.
While Bitcoin is still under its 14th August top of $ 124,481, the pattern that is highlighted by lawyer – salespeople quickly and buyers are repeating control – continues to support bullish mood among analysts who see dips as opportunities rather than warning signs.
Technical analysis highlights
- According to Coindesk Research’s technical analysis data model between 19 August 17:00 ADC and August 20, 16:00 UTC, Bitcoin swung within a $ 1,899.78 range trading between a low level of $ 112,437.99 and a high of $ 114,337.77.
- Around 13:00 on August 20, the price dropped to $ 112,652.09 in the middle of the liquidation pressure before staging a strong rebound.
- Recovery was supported by high trading activity: 14,643 BTC changed hands compared to a 24-hour average of 9,356 BTC.
- This wave established $ 112,400- $ 112,650 as a key -supported support corridor.
- In the last hour of the analysis period (15: 47–16: 46 UTC)Bitcoin rose from $ 113,863.05 to $ 114,302.43 before closing at $ 113,983.06.
- The rally broke through resistance to $ 113,500, $ 113,650 and $ 114,000, aided by increased amounts of 250+ BTC per day. Minute, signaling the start of a short -term uptrend.
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.
