Additional pressure came from U.S. Treasury Secretary Scott Bessent, who stated the strategic bitcoin reserve would remain limited to the existing $15–20B in holdings, with no new government purchases planned. He later clarified budget-neutral top-ups were possible, but the market sold off regardless, pushing BTC/USD to the 115,625.00 Murray level [5/8]. Traders now await Fed Chair Jerome Powell’s speech at Jackson Hole on Friday at 16:00 (GMT+2) for policy signals.
Support and Resistance Levels
Bitcoin is testing the mid-Bollinger band near 115,625.00. A confirmed break lower would open targets at 109,375.00 (Murray [3/8]) and 106,250.00 (Murray [2/8]). On the upside, bulls need to reclaim 118,750.00 (Murray [6/8]) to trigger a run toward 125,000.00 (Murray [8/8]) and 128,125.00 (Murray [+2/8]).
Resistance: 118,750.00, 125,000.00, 128,125.00
Support: 115,625.00, 109,375.00, 106,250.00
Trading Scenarios
Base Case: Short positions below 115,625.00 targeting 109,375.00 and 106,250.00, with stop-loss at 119,000.00. Horizon: 5–7 days.
Alternative Case: Long positions above 118,750.00 targeting 125,000.00 and 128,125.00, with stop-loss at 116,500.00.
Scenario
- Timeframe: Weekly
- Recommendation: SELL STOP
- Entry Point: 115,000.00
- Take Profit: 109,375.00, 106,250.00
- Stop Loss: 119,000.00
- Key Levels: 106,250.00, 109,375.00, 115,625.00, 118,750.00, 125,000.00, 128,125.00
Alternative Scenario
- Recommendation: BUY STOP
- Entry Point: 119,000.00
- Take Profit: 125,000.00, 128,125.00
- Stop Loss: 116,500.00
- Key Levels: 106,250.00, 109,375.00, 115,625.00, 118,750.00, 125,000.00, 128,125.00