Bitcoin Bounce Lacks Strength as Bears Tighten Grip Below $114K

Bitcoin
BTC
$113,141.16

Bitcoin bulls are showing signs of fatigue as they attempt to form a base near the $113,000 mark, with both price action and volume failing to inspire confidence. So far, the rebound has been shallow, with upside momentum stalling below $114,000, and trading volumes remaining subdued compared to the heavy selling seen during Tuesday’s early decline.

The lackluster recovery aligns with prevailing bearish momentum indicators. On the hourly chart, the 50-, 100-, and 200-hour simple moving averages (SMAs) are not only aligned bearishly but are also continuing to slope downward—confirming downside pressure in the short term.

A more concerning signal is visible on the daily timeframe, where BTC has decisively broken below its ascending trendline support. This shift undermines the broader bullish structure and is reinforced by momentum indicators such as the MACD. Both the longer-term MACD (50,100,9) and the standard MACD (12,26,0) are showing deeper negative bars beneath the zero line—indicating intensifying bearish momentum.

Given these signals, the path of least resistance appears to be lower. Immediate support lies at $111,982, the level that triggered the bounce on August 3. The next key levels to watch are the 100-day SMA at $110,053, followed by the 200-day SMA near $100,484.

To shift sentiment back to the upside, bulls would need to reclaim the 50-day SMA at $116,033—a move that would invalidate the near-term bearish outlook.

Key Levels

• Resistance: $116,033, $120,000, $122,056
• Support: $111,982, $110,053, $100,484