Bitcoin remained under pressure on Aug. 21, 2025, trading at $113,326 amid a continued downward structure. With a market cap of $2.25 trillion and 24-hour volume of $37.27 billion, the asset ranged between $112,460 and $114,723.
Daily Chart: Double-Top Formation Confirms Bearish Bias
The daily chart reveals a bearish phase after a double-top near $124,517, now a strong resistance. The current $113,500 zone is notably lower, with trading volume declining since the peak. A pattern of lower highs and lower lows confirms the downtrend, reinforced by heavier sell orders. Key support lies between $112,000 and $111,500, while resistance sits at $117,000–$118,000. Long entries may be considered if price bounces off $112,000 with rising volume and bullish candle confirmation.
4-Hour: Weak Consolidation, $112,353 Critical
On the 4-hour timeframe, bitcoin experienced a strong sell-off after hitting $124,517, followed by mini-consolidation between $113,000 and $115,000. Weak bullish candles with low momentum suggest a potential dead cat bounce. The local low of $112,353 remains critical, especially on higher volume retest. Shorts are favored if price rejects $115,000 or confirms a breakdown below $112,000. Longs are plausible if price stabilizes above $113,500 and establishes a higher low.
1-Hour: Weak Rebound, $114,500 Is Key
The 1-hour chart shows a weak upward rebound from $112,353, with lower highs indicating sustained selling pressure. The short-term structure remains bearish unless bitcoin decisively reclaims $114,500. Support between $112,800 and $113,000 offers quick bounce trades, while resistance near $114,000–$114,500 may present shorting opportunities. Scalpers can target 0.5%–1.5% profit with tight stops near resistance.
Indicators: Neutral-to-Bearish, Long-Term MAs Offer Support
Oscillator readings are neutral to bearish: RSI at 41, stochastic at 8, CCI at -92, ADX at 18 (weak trend), momentum at -5,651 (selling pressure), MACD at -304 (bearish). Moving averages reinforce the bearish outlook: 10 to 50-period EMAs and SMAs all issue negative signals, with price trailing below short- and mid-term levels. However, 100 and 200-period EMAs and SMAs still suggest a buying trend, potentially cushioning a deeper correction.
Bull Verdict
If bitcoin holds above $112,000 support with rising volume and bullish candlestick confirmations, a short-term rebound toward $117,000–$120,000 is plausible. A bullish reversal could take shape if key resistance above $114,500 is reclaimed with strength.
Bear Verdict
With bearish signals dominating all timeframes and bitcoin trading below critical moving averages, the path of least resistance remains downward. Failure to hold $112,000 may trigger further selling toward $111,500 and lower, especially if reinforced by rising volume and bearish momentum.