“Bitcoin bulls are confidently defending support at $109,000,” he wrote.
Bitcoin bulls are defending $109K support nicely. A weekly close above $114K would be big, but we’ll see by Sunday.
— Sam Price (@CryptoLifer33) August 28, 2025
Also, huge wick like that shows solid buy pressure. Likely some sideways flagging and we continue to maintain. Watching the 1H for a possible push up. pic.twitter.com/BheUtkpksJ
According to Price, strong buying pressure is indicated by long green candles. However, the expert did not rule out a temporary sideways movement in the digital gold.
Crypto analyst known as Rekt Capital emphasized that for Bitcoin it is important to reclaim $114,000 as support in order to protect against a prolonged correction phase.
#BTC
— Rekt Capital (@rektcapital) August 27, 2025
Bitcoin is finding support at $109k after the minimum Measured Move has taken place
Really important BTC reclaims $114k (black) as support in the future
Because otherwise, a rebound here could end up as a post-breakdown relief rally if $114k turns to resistance
And… https://t.co/PR2n98JHdF pic.twitter.com/EBAwa5o6MB
“This period has become a cycle of downward deviations, so it all comes down to the fact that a weekly BTC close above $114,000 would signal bullish sentiment,” he stressed.
Similar key levels were mentioned by MN Capital founder Michaël van de Poppe. According to his observations, support at $112,000 is “crucial.” If it fails, the market should expect a decline.
It remains crucial.
— Michaël van de Poppe (@CryptoMichNL) August 28, 2025
If #Bitcoin can't hold above $112K, we'll probably face a very ugly correction across the board.
Probably the final one and then we're up only for the coming period. pic.twitter.com/wXtfZwOAxH
The analyst presented his forecast on Thursday, August 28. The very next day, Bitcoin dropped to $110,000.
Analyst names the condition for Bitcoin rally to continue
At the time of writing, the leading cryptocurrency is trading around $110,500. Today, the asset briefly surged to $111,500 but quickly pulled back.
Crazy how $BTC is above $110k and market sentiment still feels down bad.
— RENZO ⚡️ (@renzosalpha) August 29, 2025
This sorta quiet sentiment despite being at all time highs is very interesting. Feels like retail hasn’t even showed up yet, imagine the scenes when they do tho 👀 pic.twitter.com/XELAahXrZ9
A user under the nickname RENZO noted that market sentiment remains pessimistic despite Bitcoin’s short-term recovery above $110,000.
“This kind of calm, considering the all-time highs, is very interesting. It seems retail selling hasn’t even started yet. Imagine what happens when it does,” the market participant added.
Earlier, the editorial team at FORECK.INFO reported on Bitcoin forming bullish megaphone patterns, with potential targets at $144K, $206K, and $260K.