Bitcoin Price Prediction: Why Is The BTC Price Going Down Today?
Today, the price of Bitcoin is around $110,200, which is close to where it was before it fell below its multi-month rising trendline for the first time since April. From the $124,000 area, sellers pushed BTC lower, which caused a sharp rejection that broke the bullish channel. Spot inflows have also turned negative, with $44 million in net outflows recorded on August 26. This shows that investors are being careful after the recent rally.
What’s Happening With Bitcoin’s Price?
On the daily chart, BTC has slipped out of its rising structure, breaking below the $112,000–$113,000 support band. Price is now testing the $109,800–$110,500 region, which lines up with prior liquidity and demand zones. A sustained close below $110K would confirm a deeper retracement toward $108,000, while recovery above $112,000 would be needed to restore short-term momentum.
The Smart Money Concepts chart highlights a recent change of character (CHoCH) below $112,500, with price dipping into imbalance zones near $109,500. This indicates that sellers remain in control unless the weak high near $1…
The post Bitcoin Price Prediction: Why Is The BTC Price Going Down Today? appeared first on Coin Edition.
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Bitcoin Price Prediction: Why Is The BTC Price Going Down Today?
Today, the price of Bitcoin is around $110,200, which is close to where it was before it fell below its multi-month rising trendline for the first time since April. From the $124,000 area, sellers pushed BTC lower, which caused a sharp rejection that broke the bullish channel. Spot inflows have also turned negative, with $44 million in net outflows recorded on August 26. This shows that investors are being careful after the recent rally.
What’s Happening With Bitcoin’s Price?
On the daily chart, BTC has slipped out of its rising structure, breaking below the $112,000–$113,000 support band. Price is now testing the $109,800–$110,500 region, which lines up with prior liquidity and demand zones. A sustained close below $110K would confirm a deeper retracement toward $108,000, while recovery above $112,000 would be needed to restore short-term momentum.
The Smart Money Concepts chart highlights a recent change of character (CHoCH) below $112,500, with price dipping into imbalance zones near $109,500. This indicates that sellers remain in control unless the weak high near $1…
The post Bitcoin Price Prediction: Why Is The BTC Price Going Down Today? appeared first on Coin Edition.
Read More