BTC Price Predictions: Potential Bounce or Breakdown?

Just wanna share my take on BTC right now. Maybe someone can spot something I missed? Would love to hear from some seasoned traders about this.

What’s the key support level to watch if we’re breaking below $106k to $108k? Feels like we’ve just been dropping since hitting $115k. Is this the dip to buy or just the beginning of something worse?

I think support lies around $110k. Last time I mentioned it, it was before Bitcoin shot up over $120k. If we dip below $110k, that’s not a good sign for sure.

I'm leaning toward the second scenario. With the upcoming speech by JP on the 22nd, market could react poorly. Even if we bounce back today, that speech could trigger more selling, right? I see potential drops to $106k or even lower.

Your chart looks solid. BTC is still in that ascending channel. The rejection at $125k isn’t shocking, but we need to watch for momentum. RSI is low but price isn’t showing reversal signs yet. If we can’t hold $112k, we might retest $108k and go deeper.

Yeah, I wasn't shocked to see Bitcoin dip after hitting that recent high. I expected some pullback since there were gaps left on the internal charts. If bearish vibes continue, we might even fill that gap around $109k.

I feel like BTC will sweep lower before it actually bounces back... just feels like it’s due for that.

Big day tomorrow, right? Fridays usually bring volatility. I see us at a support level now, but I expect a downward breakout towards EMA. By Monday, we’ll know the direction.

Looks like it’s bouncing back a bit based on recent price moves. But it’s not a strong bounce; could still drop further. We know that support gets weaker the more it’s tested.

True, but I think that bounce actually has merit. Recent news around potential rate cuts in September is influencing things. I’m seeing a huge candle right now; could hit $118k today. If we clear that, $125k is possible.

From a larger time frame, I see $110k-$111k as strong support. It aligns with daily and weekly charts, making it hard to break. This could set up a move back to a new ATH, but I’m worried we might be nearing the end of the bull run.

Quick update from my phone: BTC seems to be forming a bullish megaphone pattern. It’s respecting that EMA at 126. RSI shows a double bottom, so this could be the end of the bearish vibes. We need to see if it breaks $113k.

I sense this drop could stretch out for another week. Fridays and Wednesdays tend to bring heavy moves, and ETH seems to be losing momentum too. I wouldn't be surprised if BTC drops below $100k soon.

But hey, that $107,500 level isn’t broken yet! It’s still in that megaphone pattern and there’s liquidity building under $107k. I think we could see a double bottom forming; today might be a consolidation day.

My take is the market is a bit murky right now. No strong signals to say if we’ll keep the bull run or shift directions. It’s been fluctuating and feels like we’re just waiting for a clear movement.

I hope the original poster is getting involved in the ongoing BTC prediction contests, their analysis could land them a win!

The market is facing some tough resistance. BTC dropped below $113k and nearly hit $112k. Historically, August and September aren’t bullish months, but we might see support in November and December.

BTC has had a wild ride, hitting $124k recently. But yeah, that critical level is holding us back.

It's hard to comment without the specific chart, but I always check key indicators like market structure and volume. Many setups fail when volume drops near resistance, so that’s something to keep in mind.