Bitcoin Faces Potential Head Fake Amid Resistance at $117K and Weak Support Levels
Main Idea
Bitcoin is facing potential volatility with resistance at $117,000 and weak support zones, following a brief surge above $115,000 and a Bollinger Band Squeeze indicating possible false breakout risks.
Key Points
1. Bitcoin briefly surpassed $115,000 but dropped back to around $114,000, facing strong resistance at $117,000.
2. Weak support zones between $113,000 and $108,000 increase downside risks, with $95,000 cited as a potential downside target if volatility persists.
3. A Bollinger Band Squeeze signals low volatility, often preceding sharp price reversals, suggesting a possible false breakout (head fake).
4. Market risks are compounded by broader economic uncertainty, including global trade tensions and policy shifts.
5. Technical analysis highlights the critical resistance level at $117,000, where past rallies have failed.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin is currently
Latest News
- Roman Storm’s Tornado Cash Verdict Raises Questions About Future of Digital Privacy and Open-Source Development2025-08-07 22:33:31
- Ethereum’s Record Transactions Raise Questions About Potential August Breakout and Price Discovery2025-08-07 22:33:07
- Solana (SOL) Tests Key Support at $155–$160, Potential Rebound Toward $180+ If Levels Hold2025-08-07 22:32:50
- FUNDAMENTAL GLOBAL INC FILES $5 BILLION SHELF OFFERING, INTENDS TO USE PROCEEDS TO ACQUIRE ETHEREUM2025-08-07 22:01:41
- Two Seas Capital Questions Core Scientific’s Valuation Amid CoreWeave Buyout Proposal2025-08-07 22:01:29