Currently, Bitcoin is trading at $114,531, reflecting a slight decline over the past 24 hours. This figure places the cryptocurrency under pressure near a critical resistance level.
Key Resistance and Support Levels
Bitcoin has failed to break the $115,000 threshold, which is the first resistance zone. Analyst Michaël van de Poppe noted that momentum must build soon to avoid fading bullish hopes. A successful retest of this level could propel Bitcoin back toward the $120,000 range.
Market Sentiment Changes
According to analyst Ali Martinez, the Fear & Greed Index has cooled from 'Extreme Greed' in early July to 'Neutral' in August. This sharp sentiment drop often signals a shift in market psychology—from euphoria to caution, particularly as price volatility picks up.
Future of Bitcoin
The current structure shows Bitcoin consolidating between a narrow $110K–$116K band, where market indecision is brewing. If the price fails to reclaim $116.8K, it could put bullish momentum at risk and suggest a possible shift toward lower support zones.
Bitcoin’s fate over the coming days may hinge on whether it can break above $115K or loses its $111K footing. Traders remain on edge, watching both sentiment and support zones closely.
