BTCUSD Market Analysis – August 22
Bitcoin faces a bearish reversal as weakening momentum and the break of key trendline support shift market sentiment toward further downside pressure.
Bitcoin (BTCUSD) Key Levels
Support Levels: $112,400.00, $105,900.00
Resistance Levels: $120,500.00, $127,200.00
BTCUSD Long-Term Trend: Bearish
Bitcoin’s bullish momentum from April 2025 led to several fresh all-time highs, with price extending beyond the $120,500 mark. However, after reaching this peak, the market shifted as sellers regained control, triggering a notable decline toward the $112,400 demand zone.
The downward move breached the previous bullish trendline support, signaling a clear shift in market bias from bullish to bearish. At present, Bitcoin is pressing toward the $112,400 level, where limited resistance is anticipated, increasing the likelihood of a continuation to the downside.
Technical indicators further support the bearish outlook. The daily Moving Average now acts as resistance above price, while the Relative Strength Index (RSI) continues to fall, edging closer to the oversold region, which reinforces the prevailing bearish sentiment.
BTCUSD Medium-Term Trend: Bearish
On the 4-hour chart, Bitcoin’s structure is firmly aligned with the bearish outlook as consistent lower lows confirm ongoing downside momentum. The market’s latest push into the $112,400 zone highlights the persistence of selling pressure in the short term.
Despite this, the 4-hour RSI currently rests in the overbought region, hinting at the possibility of a minor retracement. Any temporary bullish correction is expected to retest the nearby 4-hour order block before sellers likely resume control in alignment with the broader daily bearish trend.
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