Bitcoin finds support at $112K: Can buyers push BTC to $120K this week?

Key Points

1. Bitcoin retested the $112K support level and saw a 1.6% price jump, suggesting a possible local bottom.

2. The fear and greed index dropped sharply in early August, indicating a potential shift in market sentiment.

3. Liquidity pockets at $106.5K and $97K were noted, but not all were visited, similar to the end of June when BTC rebounded from $99.8K.

4. A confirmed reversal would require Bitcoin bulls to flip the $114.1K level into support.

5. Weekend trading volume was below average, and the liquidation heatmap suggested BTC might have reached a local bottom.