Bitcoin’s Wildly Uneventful Bounce: Looks Like Doom’s Still in Fashion

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What to Know, or Pretend to:

  • Yours truly, the brave Bitcoin bulls, are tryin’ to carve out a bottom around $113,000, but their effort’s about as impressive as a cat trying to swallow a fish – weak and unconvincing.
  • Bearish feelings are as thick as molasses, with the price and volume hardly raising a sweat-if only the wallet could cry, it surely would.

In this Ridiculous Tale


BTCBTC$113,723.75◢1.65%

This analysis is brought to you by CoinDesk’s own Omkar Godbole-who probably wishes he’d stayed in bed today.

Now, folks, it looks like our friend Bitcoin is playing hard to get, dancing around the $113,000 mark like a teenager with a crush. But the flirtation’s more limp than a wet noodle, with hardly any real kicks of upward movement. It’s capped, as if someone told it, “Nope, not yet, try again next Tuesday,” and the volume’s even quieter-less lively than a ghost town on a Sunday morn.

The good ol’ bear cubs are grinning, for all signs point to more downward than sideways. The simple moving averages-that’s fancy-talk for trend lines-are all pointing southward, like a herd of cows headed for the creek. The breaking of that upward trend-well, that’s about as surprising as rain in April.

And if the MACD (that’s another fancy indicator) is anything to go by, we’re headed for more gloomy days, with bars deep into the negative territory, like dark clouds over an empty barnyard.

The bottom line? It’s a one-horse race, folks. The first safe harbor is around $11,982, the very spot where the market turned around back in August. If that gives way, look out for the $11,053 mark, and if that’s swept aside too, then down to the $10,000 range we go-more or less.

Now, if by some miracle, Bitcoin acts more like an angel instead of a devil-shoots above the $116,033 mark or even the lofty $120,000-then maybe, just maybe, the cloud of bears will lift.

  • Resistance: $116,033, $120,000, $122,056 – in case the gods are feeling generous.
  • Support: $111,982, $110,053, $100,484 – where the brave might yet find safety from the storm.

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2025-08-20 15:49