[Analyst: Bitcoin Falls Back to Pre-Powell Speech Levels, Technicals Lean Bearish] BlockBeats News, August 25, CoinDesk analyst and Chartered Market Technician Omkar Godbole stated that the price of Bitcoin (BTC) has fallen back to around $112,000, close to the level before Federal Reserve Chair Powell's dovish remarks last Friday. Last week's high reached $117,440. The daily chart shows that Bitcoin has formed a 'lower high' near the prior bull market trendline extending from April's low, confirming the previous trendline breakdown and suggesting that the bearish trend may continue. The Guppy Multiple Moving Averages indicate that short-term moving averages are about to cross below long-term moving averages, further signaling strengthening bearish momentum. Bitcoin's key support level is at $110,756, with further support near the 200-day moving average around $100,000. To restore a bullish outlook, the price needs to rise above last Friday's high of $117,440.