Will Bitcoin Survive the $114K Drama? 🐂📉

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Ah, the eternal dance of Bitcoin-where fortunes are made and lost faster than you can say “FOMO.” 😅

  • Bitcoin must close above $114,000 this week to avoid what some traders call an “ugly” correction. Ugly? Really? What’s next, a “hideous” bear market? 😒

  • If BTC fails to hold $112,000 and confirms a bear flag breakdown, brace yourselves for a plunge to $103,700. Yes, that’s right-a 6% drop served with extra despair. 🍿

According to traders and analysts (who always seem so confident until they’re wrong), Bitcoin needs to reclaim $114,000 like a prodigal son returning home. Otherwise, we might witness yet another chapter in the tragicomedy of crypto corrections. 🎭

Why $114,000 Is the Magic Number-or So They Say

Bitcoin is currently on its third consecutive week of losses, trading 11% below its all-time high of $124,500. One would think it had committed a crime against the free market! Per data from CryptoMoon Markets Pro and TradingView, the price has dipped below $114,000-a level that has supported BTC for six weeks straight. How cruel of it to abandon such a loyal friend! 💔

Trader and YouTuber Sam Price-the philosopher-king of crypto Twitter-has declared that “Bitcoin bulls are defending $109K support nicely.” Oh, how noble these bulls are! He added:

“A weekly close above $114K would be big.”

Indeed, the long wick below $109,000 signals “solid buy pressure,” proving that there are still suckers-I mean, believers-willing to defend this support level at any cost. Bravo! 👏

Meanwhile, popular analyst Rekt Capital chimed in with his wisdom, stating that flipping $114,000 into resistance would prolong the pullback period. In other words:

“This has been a cycle of downside deviation, so all it comes down to is Bitcoin Weekly Closing above $114K for bullish bias.”

Oh, the drama! The suspense! Will Bitcoin rise like a phoenix or fall like Icarus? Only time will tell. ⏳

Bears Are Plotting Their Revenge: Target $103,000 🐻

As reported by CryptoMoon, holding above $112,000 is crucial for Bitcoin’s survival. MN Capital founder Michael van de Poppe echoed this sentiment when he spotted BTC trading at $112,800 on Thursday:

“If Bitcoin can’t hold above $112K, we’ll probably face a very ugly correction across the board.”

And wouldn’t you know it? By Friday, Bitcoin had already dipped below this critical level, validating a bear flag on the four-hour chart. A bear flag, ladies and gentlemen, is not a symbol of peace but rather a harbinger of doom. It suggests further declines toward $103,700-a place where dreams go to die. 🪦

The relative strength index (RSI) remains below the mid-line, confirming the bearish momentum. Liquidation data shows bid clusters down to $104,000, meaning BTC could sink even lower just to grab liquidity. Because why stop halfway when you can make everyone miserable? 😈

So here we are, dear reader, caught between hope and despair, bulls and bears, greed and fear. Will Bitcoin triumph over its existential crisis, or will it succumb to the whims of fate? Stay tuned for the next episode of “Crypto Soap Opera: The Saga Continues.” 🎬

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2025-08-29 13:25