Bitcoin: The world of cryptocurrency never stops moving, and Bitcoin is once again at the center of attention. Currently, Bitcoin is trading around $114,390, up nearly 1% in the past 24 hours, with daily trading volumes of almost $69.6 billion. Despite this modest recovery, the charts suggest that Bitcoin is wrestling with important resistance levels.
Bitcoin Technical Outlook Key Levels in Focus
On the charts, Bitcoin still faces hurdles. After failing to hold above its 50-day moving average of $116,033, this zone has now turned into resistance. The rejection around $124,450 created a bearish engulfing candle, signaling that July’s momentum may be losing steam.
Market watchers are closely monitoring the $112,000 zone, the neckline of a possible head-and-shoulders pattern. If Bitcoin slips below this level, the price could quickly slide toward $108,000 or even $105,150. Technical signals back up this cautionary tone: the MACD has entered negative territory, and the RSI, sitting at 44, shows room for further downside. The emergence of consecutive bearish candlesticks, resembling the well-known “three black crows” pattern, also suggests more weakness could follow.
Yet, the bigger picture remains far from hopeless. Since June, Bitcoin has held onto a structure of higher lows. Recent candles near $113K, small and indecisive, suggest that investors are not rushing to exit. A rebound above $116,150 could revive bullish momentum, targeting $120,900, then $124,450, and potentially the highly anticipated $130,000 mark.
Fundamental Strength Armstrong’s Bold $1M Prediction
Beyond the charts, Bitcoin’s fundamentals continue to shine. In a recent statement on August 20, Coinbase CEO Brian Armstrong predicted that Bitcoin could hit $1 million per coin by 2030. He acknowledged that this wasn’t based on a formal model but rather his outlook on adoption, innovation, and technology-driven growth.
Supply is tightening as Bitcoin’s circulation nears its capped limit of 21 million, while demand continues to expand through institutional adoption and global acceptance. For long-term investors, this paints a picture of opportunity, even as short-term traders grapple with volatility.
What Traders and Investors Should Watch
For traders, the immediate playbook is straightforward: a close above $116K opens the door toward $124K–$130K, while a close below $112K raises the risk of a fall to $108K. For long-term investors, however, this price zone looks more like a chance to accumulate rather than a reason to panic.
Armstrong’s million-dollar call underscores the broader belief that Bitcoin is no longer just a speculative asset it’s shaping up to be a cornerstone of the future of digital finance.
Bitcoin Hyper ($HYPER) Expanding the Ecosystem
Adding to the excitement is Bitcoin Hyper ($HYPER), a new project aiming to blend Bitcoin’s legendary security with the speed of Solana’s framework. Positioned as the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine, $HYPER promises lightning-fast smart contracts, low-cost decentralized apps, and even the creation of meme coins.
With its audited framework and a growing presale that has already crossed $10.8 million, $HYPER is quickly gaining momentum. At the current stage, tokens are priced at just $0.012755, though prices are set to increase as the presale continues. Investors can purchase directly through the official Bitcoin Hyper website using crypto or bank cards, making it accessible to both seasoned traders and newcomers.
Bitcoin’s current price action shows short-term caution, but the bigger story is one of resilience and long-term potential. Whether BTC dips toward $108K or surges toward $130K in the near future, the long road ahead appears upward. With strong fundamentals, bold predictions, and innovative projects like $HYPER entering the market, Bitcoin continues to prove why it remains the undisputed leader in digital finance.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and carry risks. Readers are encouraged to do their own research or consult a financial advisor before making any investment decisions.
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