Lo! The price of this digital serpent doth linger in the shadow of $112,000, its attempts at recovery met with the cold embrace of resistance near $110,500. A tale of woe, or perhaps a prelude to redemption?
- Behold, the price hath plunged anew below the $112,000 threshold, a cruel jest upon the hearts of hopeful investors.
- Now it crawls beneath $110,500, its path obstructed by the 100-hourly Simple moving average, a wall of stone and numbers.
- Yet lo! A breach above the contracting triangle, with resistance at $108,800, as if the market itself hath drawn a line in the sand.
- If it remain below $110,500, a fresh descent shall surely follow, for the bears, ever watchful, await their moment.
Bitcoin‘s Fickle Dance of Consolidation
The price, in a desperate bid for ascendancy, rose from the $107,350 abyss, scaling the heights of $108,200 and $108,400 like a weary pilgrim. Yet the path is fraught with peril, for the bears linger near $109,500, their claws unsheathed.
It hath cleared the 23.6% Fib retracement, a minor triumph, yet the hour is dark, and the 100-hourly Simple moving average looms like a specter. The market, ever capricious, now hovers near $109,500, a precarious balance between hope and despair.
The immediate resistance, a cruel taunt, lies at $109,500, while the first key hurdle stands at $110,200. Should it breach this, the path to $111,650 and beyond may open, though the road is paved with uncertainty.
A close above $110,500 may yet ignite a spark of hope, but let us not be deceived-this is a game of shadows, where every gain is met with a greater fear of loss.
Another Descent? The Market’s Cruel Jester
If the price falters at $110,500, a fresh decline shall descend upon us, a tempest of sorrow. The immediate support, a fragile refuge, lies at $108,800, while the first major bulwark stands at $108,200.
Beyond, the $107,350 zone awaits, a ghost of past highs. Should it fall further, the $106,500 and $105,500 levels shall test the resolve of even the most steadfast.
Technical indicators, those faithful scribes of the market, whisper of a MACD in retreat, a bearish realm, while the RSI, ever the optimist, dares to rise above 50. A contradiction, as all things are in this grand theater of finance.
Major Support Levels – $108,800, followed by $108,000. Major Resistance Levels – $109,500 and $110,500. A dance of numbers, as old as time itself.
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2025-09-02 05:33