Bitcoin
It reached near $ 118,348 on Sunday, up to 0.39% to 24 hours, as the two analysts outlined paths that could test the nerves of entrepreneurs: a sinking towards $ 108k- $ 112k or a drawn range with room for altcoins.
Lark Davis Arguments That if Bitcoin continues to slide, the most likely landing zone is $ 108,000- $ 112,000. That range was served as a ceiling earlier this year when the Bitcoin rally was stuck, and in market psychology, levels that were once blocked by the price often support support when modified.
He emphasizes that this area is also aligned with two classic pullback checkpoints known as 50% and 61.8% Fibonacci retracement. These steps, drawn from the size of the last Bitcoin rally, are widely watched as they often marked where the income revenue emerges and new purchases have emerged. While Fibonacci ratios are math sounds, in practice they work as self -fulfilling markers because many entrepreneurs have planned entries there.
Davis also points to the 20-week average transfer of average, a racing line that quickly updated the recent price action. When this line rises to the same $ 108k – $ 112K area, it boosts the case for support, as technical entrepreneurs see both history and momentum meeting in a zone.
When some signal clusters like this – the resistance becomes support, Fibonacci checkpoints and a rising average – it’s called “confluences,” and confluence zones often act like magnets for price tests.
In other words, Davis does not predict the fall but is a healthy reset. His plot suggests that if bitcoins are sinking, buyers can walk around that band and the next leg is higher.
Michaël van de poppe takes a different angle, Noting That bitcoin has only been rejected at a major resistance level near recent highs. A denial means that sellers absorb demand while trying the price to break, a common signal that momentum needs to cool before the next push. He hopes the market will incorporate instead of trend, with bitcoins moving between a floor and a ceiling while resetting leverage.
The tradingview chart he shared is emphasizing it. It shows the making of repeated attempts at the top of its range but failing to the resistance above. Candles are formed by wicks -price spikes that fade quickly – suggesting the sale of pressure is active near the high. Underneath, the chart is marked with a zone of potential support, in which Van de Poppe believes that Bitcoin can find a base before another breakout attempt.
For Van de Poppe, the message is not about deep secret but time. A set of sideways will give the breathing room to the market, -Clear the overextended positions, and set the stage for the next move. It will also open the door to the altcoins, which often exceeds when Bitcoin stops trending.
That twist, he suggests, can be brewing. When bitcoin is stabilizing, entrepreneurs usually seek higher returns to large altcoins such as Ether before spreading to smaller tokens. Altcoin rallies rarely start while Bitcoin is in freefall, but they often get momentum when BTC ranges and volatility.
In simple terms, the two analysts describe others but compatible playbooks. Davis favors a deeper pullback to a support cluster that can refresh the utter, as Van de Poppe sees a pause with a scope with the potential to shine the Altcoins.
For sunny readers, the checklist is simple: watch if bitcoins traded on the sideways or sank into the $ 108k -$ 112k zone. In either case, the analysts adhere to the broader framework of the bull market remains intact, but the forward path may look different depending on how support and resistance are playing in the future weeks.
Technical assessments
- According to CoinDesk’s technical analysis data model, Bitcoin showed bullish strength in the 24 -hour window from August 16, 15:00 UTC to August 17, 14:00 UTC, rising from $ 117,847.02 to $ 118,485.32, a 1% gain.
- The support was formed near $ 117,261.72 early on August 17, followed by a break above $ 118,000 with a higher than-average volume of 2,848.15 BTC during the rally at 04:00, 08:00, 09:00, and 13:00 UTC.
- In the last hour from August 17, 13: 17–14: 16 UTC, Bitcoin rose from $ 118,165.31 to $ 118,397.67, with a sharp move to 13: 51–13: 52 UTC when the price spun from $ 118,417.23 to $ 118,604.10 to 679.81 btc of volume.
- The move sets short-term resistance to around $ 118,600 before integrating near $ 118,400, leaving the potential for further upside down after cooling.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
