The broader daily trend remains bearish following bitcoin‘s rejection from a recent high at $124,517, with price action collapsing to test support near $112,000. A large red engulfing candlestick confirmed sellers’ dominance, and subsequent failed attempts by bulls to regain momentum indicate exhaustion on the buy side. With volume increasing on red candles, sellers appear firmly in control. Current price action near $112,800 places bitcoin in a precarious technical zone—just above major support but vulnerable to a deeper breakdown. A close below $111,500 would confirm a bearish continuation.
BTC/USD 1-day chart via Bitstamp on Aug. 22, 2025.
On the four-hour bitcoin chart, the structure suggests bearish consolidation within a descending triangle pattern. Recent highs have diminished progressively, topping out at $118,626, while support continues to test the $111,900 area. The pattern implies downward pressure, especially with elevated volume on red candles. Should bitcoin break below the triangle’s base, traders could target levels around $109,500 to $110,000. However, a bullish reversal near $112,000, particularly with a strong candlestick formation, may offer a temporary countertrend bounce.
BTC/USD 4-hour chart via Bitstamp on Aug. 22, 2025.
Hourly bitcoin chart dynamics show a short-term neutral-to-bullish setup, with bitcoin attempting to carve out a rounded bottom between $111,900 and $113,500. A recent rejection at $113,000 signals resistance, but fading volume could precede a reversal if buying pressure returns. The structure would turn bullish on a breakout above $113,500, opening room for a potential rally toward $115,000. Conversely, any failure to hold $111,500 would negate the bullish thesis and signal renewed downside.
BTC/USD 1-hour chart via Bitstamp on Aug. 22, 2025.
Momentum indicators and trend-following tools reinforce a cautious outlook. The relative strength index (RSI) is neutral at 40, suggesting indecision. Stochastic, commodity channel index (CCI), average directional index (ADX), and awesome oscillator are also neutral, reflecting a lack of directional conviction. However, the momentum indicator signals a bearish trend, and the moving average convergence divergence (MACD) level at -619 confirms bearish momentum.
Among moving averages (MAs), both the 10, 20, 30, and 50-period exponential and simple moving averages point to negative signals. Notably, the 100 and 200-period exponential and simple moving averages still flash positivity, indicating longer-term support remains intact.
In conclusion, bitcoin’s technical posture reflects bearish pressure across daily and four-hour timeframes, while the hourly chart shows potential for a bullish reversal. The $111,900 support is pivotal; its failure would likely accelerate selling toward $109,500. Traders seeking long exposure must wait for volume-backed confirmation and a breakout above $113,500.
Bull Verdict:
If bitcoin holds the $111,900 support and breaks above $113,500 on strong volume, the setup favors a short-term bullish rebound toward $115,000 and potentially higher. Confirmation of a rounded bottom on the hourly chart, combined with longer-term moving average support, could attract buyers aiming to capitalize on a bounce within an otherwise bearish broader structure.
Bear Verdict:
Failure to defend the $111,900 level would confirm bearish continuation, with downside targets in the $109,500 to $110,000 range. Selling pressure remains dominant across daily and four-hour charts, and bearish signals from momentum indicators like the MACD and moving averages reinforce the likelihood of further declines unless bulls reclaim key resistance levels with conviction.
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