Aug 31, 2025
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Bitcoin Closes Bearish Below $110,500, Signals Potential Downside
Cryptowzrd's latest analysis indicates that Bitcoin closed bearish, trading below the $110,500 support level, which could lead to further downside. Key points include:
- A decisive close below $110,500 may signal a significant shift in market sentiment.
- If buyers fail to reclaim this level, Bitcoin could test the $100,000 mark.
- The current bearish candle reflects potential selling pressure unless a strong bullish reversal occurs.
- Bitcoin Dominance (BTC.D) has shown weakness, suggesting capital is moving towards altcoins.
- The market is entering a monthly transition period often associated with increased volatility and mixed sentiment.
Intraday trading reveals sharp volatility, with Bitcoin currently holding below the critical $110,400 support. Important observations include:
- If Bitcoin fails to reclaim $110,400, it may flip to resistance, leading to potential short setups targeting $105,500 or lower.
- A strong reclaim above $110,400 could shift momentum back to the bulls, allowing for possible upward movement.
- Caution is advised as the market lacks clarity at this time.
