Bitcoin’s price is about to commit a felony by breaking below yet another sacred level, after failing to regain momentum like a sad clown at a party. Investors are now worried their crypto dreams might soon be crushed like a soda can by a bear. 🐻💥
BTC Price: Technicals
By Shayan, the Oracle of Charts and Keeper of the Bear Market Flame 🕯️🔥
The Daily Chart
On the daily chart, Bitcoin has been dropping like a hot potato since hitting the $124K all-time high. August? That’s just a fancy word for “bear market picnic.” The price is now breaking below the $110K level, which might drag it toward $104K and potentially below $100K-because why not? 🏃♂️💸
The RSI is like a broken toaster-stuck below 50, sparking bearish chaos. Unless the market suddenly gains a brain, further downside looks more probable. Unless you believe in miracles, which we all know are just crypto bros lying. 🤚
The 4-Hour Chart
On the 4-hour chart, Bitcoin is now trapped in a steep descending channel, breaking support like a sad child at a birthday party. The $110K level is toast, and investors are now eyeing the $104K zone-where Fibonacci’s Golden Snack Zone 🍪 and doom collide. RSI is screaming “bearish!” louder than a telemarketer at 3 AM. If $104K falls, $100K is just a warm-up act for the grand finale. 🎭📉
Onchain Analysis
Exchange Netflow (30-day moving average)
Exchange netflows are more bearish than a Monday morning meeting. Since April, the 30-day moving average has been in negative territory, which means Bitcoin is fleeing exchanges faster than your ex after you admit you still love them. 🏃♀️💔
More Bitcoin is leaving exchanges than entering-because who wants to sell when you can just hold it and pray? The reserves are dropping, and long-term holders are like that one uncle who buys Bitcoin and tells you it’s the “real deal” in 2009. 🧑🦺💸
Isolated inflows? Please. They’re just short-term visitors. The real money is moving off exchanges, and if futures market sellers don’t shut up, we might all be eating ramen noodles for a decade. 🍜📉
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2025-08-29 20:02