Daily Candle Signals Bearish Pressure For Bitcoin

Cryptowzrd expanded on his outlook by pointing out that Bitcoin’s daily candle closed bearish, with price now trading beneath the $110,500 support zone. This breakdown is significant and could invite further selling pressure in the sessions ahead if buyers fail to reclaim the level.

He emphasized that holding below this support opens the door for a potential move toward the $100,000 mark. However, a strong bullish candle and a swift recovery could invalidate the bearish setup, restoring confidence for buyers.

In the analysis, he also highlighted the performance of Bitcoin Dominance (BTC.D), which closed indecisively while displaying weakness. This weakness in dominance is often viewed as a positive signal for altcoins, as it suggests capital is flowing away from Bitcoin and into alternative assets.

Such a shift in market dominance reflects growing market confidence in altcoins. When Bitcoin dominance stalls or declines, it tends to fuel altcoin rallies, allowing traders to diversify into promising setups across the market.

Finally, he noted that markets are heading into the monthly transition period, a time often associated with increased volatility and mixed sentiment. Going into the weekend, he emphasized the importance of staying rational and avoiding overextending in either direction, maintaining measured strategies while waiting for clearer confirmation signals.

BTC Volatility Dominates Intraday Trading

Cryptowzrd highlighted that today’s intraday chart displayed sharp volatility with a clear bearish tone, as Bitcoin slipped and is currently holding below the $110,400 intraday support. This level has now become critical, as losing it signals weakening buyer strength and raises the risk of further downside pressure. 

He explained that if Bitcoin retests $110,400 and fails to reclaim it, the level could flip into resistance. Such a scenario would likely trigger a short setup, with price action targeting the $105,500 support area or even extending lower if bearish momentum accelerates. This makes the $110,400 region a decisive battleground for traders closely watching intraday setups.

On the other hand, Cryptowzrd pointed out that a strong reclaim and hold above $110,400 could shift momentum back in favor of the bulls, opening the door for further upside pressure. However, the crypto analyst emphasized that the market currently lacks clarity, and traders should exercise caution before rushing in.

Market Structure Signals Growing Vulnerability

According to @Crypto_TheBoss in a recent market update, Bitcoin dominance has slipped below the 60% support level, signaling a notable change in market dynamics. This breakdown points to a weakening grip for Bitcoin as capital flows begin to diversify into other areas of the crypto market. Moves like this often act as early signals of potential altcoin strength, as traders look beyond Bitcoin for opportunities.

The analyst noted that Bitcoin dominance has bounced from the 58% area, showing that some buying pressure emerged to defend the level. This bounce highlights temporary stability, but it does not yet confirm a recovery. Instead, it reflects a cautious response from the market, where buyers are attempting to prevent further declines while broader sentiment remains uncertain.

Looking ahead, @Crypto_TheBoss explained that if the 58% level fails to hold, Fibonacci retracement zones could act as key areas of support. Losing this support would deepen the bearish outlook and likely accelerate capital rotation into altcoins, shifting momentum away from Bitcoin’s leadership in the market.

Positive And Negative Technical Signals

@Crypto_TheBoss went on to highlight that the bounce from support shows buyers stepped in and temporarily halted the downside pressure. This kind of reaction often reflects how market participants are still willing to defend critical levels, even when sentiment leans toward caution. By holding above support, Bitcoin dominance was able to avoid a deeper immediate drop, though uncertainty still lingers.

The analyst further emphasized that Fibonacci levels are widely used in technical analysis as reliable support and resistance zones. For Bitcoin dominance, the Fibonacci structure provides a technical roadmap, guiding market participants on where the price may either stall, reverse, or accelerate if another leg lower unfolds.

In a negative scenario, @Crypto_TheBoss cautioned that losing the 58% support could trigger stronger selling pressure, pushing dominance further down. A breakdown below this level would not only signal structural weakness but also reinforce the narrative of Bitcoin losing its edge in market control. 

Such a scenario is often interpreted as a sign of capital rotation into altcoins. As Bitcoin dominance decreases, investor attention tends to shift toward alternative cryptocurrencies, sparking renewed activity and potentially driving sharp moves in the altcoin sector. This rotation could set the stage for fresh momentum in altcoins, particularly if Bitcoin struggles to quickly reclaim its lost ground.

Bitcoin (BTC) trades in a precarious position near $112,000, caught between key technical levels that could determine its next major directional move following a pullback from the $124,000 all-time high reached two weeks ago.

According to an Aug. 27 report by Glassnode, BTC faces immediate resistance at $113,700, which aligns with the three-month cost basis of recent investors.

Potential sell pressure

Any bounce attempt will likely encounter selling pressure from short-term holders seeking breakeven exits after being pushed into unrealized losses. The one-month cost basis sits higher at $115,600, creating an additional resistance layer that could cap recovery attempts.

More concerning for bulls, the critical support level rests at $107,000, representing the six-month cost basis threshold. As of press time, Bitcoin is priced at $112,206.57.

A sustained breakdown below this zone risks triggering fear among newer market participants and could accelerate downside momentum toward the $95,000-$93,000 region, where historical analysis suggests potential bottom formation.

The Cost Basis Distribution Heatmap reveals a thick cluster of supply between $93,000 and $110,000 that has been forming since December 2024. This accumulation zone has provided resilience above $110,000 but also represents the logical target area should selling pressure intensify.

Statistical analysis of four-year bands indicates prior bearish drawdowns typically found lows around one standard deviation beneath short-term holders’ cost basis, supporting the $95,100 projection.

Investors show indecision

The current market structure indicates that Bitcoin has experienced an 11.4% drawdown from its peak, which remains modest compared to historical mid-cycle corrections that typically exceed 25%.

The Relative Unrealized Loss stands at just 0.5%, far below the 30% levels typically associated with deep bear phases. This metric suggests that the broader market has yet to experience severe stress.

However, sentiment indicators point to mounting pressure. The Spent Output Profit Ratio hovers near neutral at 1.0, indicating that investors are neither realizing significant gains nor losses.

Perpetual futures markets have shifted decidedly bearish since July, with Cumulative Volume Delta showing sustained sell pressure across major exchanges, including Binance and Bybit.

Spot market sentiment has shifted from the strong buying pressure observed in April, which fueled the rebound from $72,000. Funding rates remain near 0.01% across exchanges, indicating a fragile equilibrium where even modest sell pressure could quickly shift sentiment bearish.

Bitcoin’s technical setup presents a binary outcome. Any relief rally faces formidable resistance at $113,700, while losing the $107,000 support opens the door to accelerated declines targeting the $95,000-$93,000 zone where substantial supply clusters await.

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Simon Chandler

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Simon Chandler

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,…

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August 4, 2025

Dogecoin has bounced to $0.20 in the past 24 hours as the market begins to recover — putting the current Dogecoin price prediction back in the spotlight.

While the move marks a modest uptick, it could be the start of a bigger shift in momentum for DOGE, which is still down 16% in a week and 26% over the past two weeks.

Even so, the meme coin remains up 23% in the past month and nearly 90% year-over-year, keeping it firmly on the radar of traders watching for the next explosive move.

Last week was a turbulent time for the coin and the wider market. Increased tariffs and an unyielding Federal Reserve dampened confidence among whales and institutions, which withdrew from ETFs for the first time in weeks.

Yet DOGE may have already bottomed out, with overall trajectory of the market likely to push the coin to higher levels in the next few months.

Dogecoin Price Prediction: Whale Outflows Spike as DOGE Breaks Key Support – Is a Full Breakdown Coming?

The past few days have been tough for the crypto market, with the aforementioned economic factors resulting in considerable outflows.

If we look at major crypto ETFs, we see that the seven days up to today resulted in a total outflow of $223 million, with Ethereum inflows offsetting just over $400 million in Bitcoin outflows.

This has affected Dogecoin and other meme tokens, with DOGE witnessing a steep drop in volume, from $24 billion on July 21 to $1.4 billion today.

However, the coin has seen a few significant transfers away from exchanges in recent days, including two apparent buys from Robinhood (here and here).

As such, the overall situation arguably isn’t as bad as it seemed last week, with the Dogecoin price and the wider market likely to recover from recent stressors.

And if we look at DOGE’s chart today, we see that the coin may have begun a bounce after hitting short-term lows.

Most notably, the token’s relative strength index (yellow) has begun rising again after touch 35 a couple of days ago.

One important point to make is that, despite last week’s correction, Dogecoin remains in the middle of a bull phase, having broken out of a falling wedge a couple of months ago.

Raised ETF flows have been the primary driver of recent gains, and what’s bullish is that the market is still waiting on the possible approval of numerous XRP and Solana ETFs, as well as for several other tokens.

Assuming that the SEC approves most of these later in the year, this will massively boost the Dogecoin price, which could hit $0.30 by the middle of September.

Maxi Doge Raises $300,000 in Recently Launched Presale: Is This the Next Big Meme Token?

One of the problems with Dogecoin is that it’s a well-established coin, meaning that it’s reached a size where it doesn’t make the kind of dramatic gains it did when it was younger.

However, the market is currently awash in new and interesting meme coins, with one of the newest and most intriguing being Maxi Doge (MAXI), an ERC-20 token that launched its presale this week.

With a supply of 150.24 billion MAXI, Maxi Doge has styled itself as a harder, more bullish version of Dogecoin, aimed at trading with leverage and making huge profits.

It’s currently building up a community of traders, who will share trading strategies and participate in trading competitions and challenges, with winners rewarded in MAXI.

The coin will also maintain a Maxi Fund, equal to 25% of its total supply, which it will use to support partnerships and increase liquidity.

It has already opened its Telegram channel, and will have a Discord channel coming soon, with both serving as a hub for its community.

As an Ethereum-based token, MAXI will be open for staking, enabling holders to earn a passive income.

Investors can join its presale now by going to the Maxi Doge website, where MAXI currently costs $0.0002505.

This price will rise repeatedly during the sale, so interested buyers should act now to ensure the biggest possible gains.

Click Here to Participate in the Presale

Coinbase’s (COIN) softer-than-expected second quarter results triggered a sharp Friday sell-off, but Wall Street broker Benchmark says the drop is a buying opportunity, not a red flag.

Analyst Mark Palmer reiterated his buy rating and $421 price target. He argued that the exchange’s long-term investment case remains intact as the company continues to build foundational crypto infrastructure.

The shares are 1.8% higher in early trading Monday, after having closed 16.7% lower on Friday.

Benchmark highlights five catalysts supporting its thesis. First, Coinbase’s revenue-sharing agreement with Circle on USDC reserves positions it to benefit from stablecoin adoption, especially after the U.S. passed the GENIUS Act.

Second, its institutional offerings, including prime brokerage, crypto-as-a-service and derivatives, are well-timed because the CLARITY Act may spur further adoption.

Third, the firm is developing a crypto “super app” integrating trading, payments, non-fungible tokens (NFTs), decentralized finance (DeFi) and developer tools, a unique product in the U.S. market.

Fourth, the integration of decentralized exchanges expands token access beyond centralized listings.

Finally, Coinbase’s estimated $360 million in July transaction revenue, a 44% jump from its monthly average during the second quarter, signals a potential recovery in crypto activity.

Benchmark concludes the quarter’s miss is short-term noise. Coinbase’s evolving platform, underpinned by regulation tailwinds and increasing institutional demand, points to long-term growth.

Read more: Coinbase Slides Nearly 20% in Worst Weekly Performance Since September 2024

Hold $2.65 Or Risk Collapse, Break $3.12 And Set For Rally

In an X post on August 2, Egrag Crypto shares an interesting technical insight on the XRP market currently undergoing an intense correction wave. According to the renowned analyst, macro analysis indicates the altcoin retains a bullish structure; however, the present price correction can only be terminated via two pathways.

Firstly, micro price analysis suggests that XRP must achieve a daily price close above $3.12 to signal a market bottom entry. In doing so, the cryptocurrency reclaims a pivotal resistance level, paving the way for a potential rise to higher levels such as $3.60.

On the other hand, the immediate major support level lies around $2.65. Egrag Crypto explains that a continuous price decline to successfully retest this price floor may ignite a rally, pushing XRP to its current all-time high of $3.84.  However, any decisive price break below $2.65 could create a rather dire situation, pointing to potential lows around $2.19.

XRP Surge To $17 Remains On The Cards

In other news, Egrag Crypto’s analysis also reveals that XRP remains in a macro, long-term cyclical pattern that shows a multi-year bullish cycle, with recurring structural traits. The key elements in this pattern include bullish pennant formation, which suggests a continuation pattern, the 21 EMA (Green dotted line) that historically aligns with significant trend shifts, the Support Arc (Red line), and the Market Cycle Top (blue line).

Notably, XRP has since emerged from the bull pennant signaling intentions to maintain its current uptrend. However, the altcoin faces an insurmountable resistance around $3.84, which aligns with an intersection between the mid-cycle top and the 21 EMA line. If XRP can successfully break past this price barrier, investors should anticipate a direct rally to the projected cycle top $17, representing a potential 525% gain on present market prices.

At the time of writing, XRP trades at $2.81, reflecting a 5.32% decline in the past day as earlier stated. This recent price fall underscores a turbulent trading period for the altcoin, which lost over 11.38% of its market value in the last week. However, a monthly price gain of 22.18% indicates a significant number of investors remain in profit despite these corrections.

Bitcoin is currently holding just above the $108,000 level and bulls are maintaining momentum after a volatile start to July. However, a closer look at on-chain data shows how fragile that position might be. 

Interestingly, two support levels, $106,738 and $98,566, are now the most important zones for bulls to defend. These levels represent clusters of addresses holding large amounts of Bitcoin, and losing them could trigger a deeper correction.

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Bitcoin’s Support Clusters Around $106,000 And $98,000

Taking to the social media platform X, crypto analyst Ali Martinez pointed to two major support levels based on data showing Bitcoin’s purchase clusters. This data is based on Sentora’s (previously IntoTheBlock) In/Out of the Money Around Price metric among addresses that bought Bitcoin close to the current price. 

As shown by the metric, the most important current zones of purchase are at $106,738 and $98,566. These two zones are where massive buying activity has occurred in the past few weeks, and they could act as support in case of a Bitcoin price crash. 

The first zone, between $104,982 and $108,190, contains 1.68 million addresses with a total volume of 1.28 million BTC at an average price of $106,738. Below the first zone, a larger group of 1.71 million addresses holds a greater volume of 1.25 million BTC within the price range of $95,248 to $98,566, with an average price of $98,566.

As long as Bitcoin continues to trade above these levels, the ongoing rally could continue to push upward. However, if these pockets of demand are broken with enough selling pressure, the leading cryptocurrency could enter into an uncertain price zone with little buying interest to provide support.

Speaking of selling pressure, on-chain data shows a slowing sell pressure among large holders. According to data from on-chain analytics platform Sentora, Bitcoin recorded its fifth straight week of net outflows from centralized exchanges. The past week alone saw more than $920 million worth of BTC moved into self-custody or institutional products, mostly Spot Bitcoin ETFs.

Bitcoin Needs To Break Weekly Resistance For New Highs

Even with solid demand zones beneath, Bitcoin’s path to new highs is not yet confirmed. Analyst Rekt Capital weighed in with his analysis, noting that Bitcoin is currently facing a strong weekly resistance band just under $109,000. Particularly, Bitcoin is at risk of a lower high structure on the weekly candlestick timeframe chart.

Rekt Capital noted that a weekly close above the red horizontal resistance line must be achieved in order for Bitcoin to reclaim a more bullish stance. That resistance, which is currently around $108,890, is acting as a ceiling for Bitcoin’s upward rally.

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As such, Bitcoin would need to make a weekly close above $108,890 to position itself for new all-time highs. Unless there is a convincing break of that level, the price action of Bitcoin could be erratic and susceptible to a retracement to $106,000.

At the time of writing, Bitcoin is trading at $108,160.

Featured image from Unsplash, chart from TradingView

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Bitcoin is approaching a key inflection point on the 4-hour chart, where recent price action has begun to tighten within a narrowing range. This area marks a crucial junction that could determine BTC’s next move. As momentum fades and volatility compresses, whether bulls reclaim control or bears push prices lower, this setup demands attention.

Support And Resistance Zones Narrow Into Decision Point

According to ATOM B’s post on X, Bitcoin has broken above the downward trendline, a technical move that was validated by two confirmed retests, signaling a structural shift. However, despite the breakout, BTC encountered strong resistance around the $108,500 and $112,500 zones, resulting in a notable rejection.

As a result, the price has pulled back and is retesting the $104,500 demand zone, a level highlighted by ATOM B as critical for potential bullish continuation. This zone has typically acted as a base for upward momentum, and how BTC behaves here could dictate the next directional bias.

If bulls successfully defend this area and print a higher low with strong volume, it could reignite upward momentum, sending BTC back toward the $108,000 and $112,000 resistance region for another test. On the other hand, if $104,500 fails to hold, the next support lies near $100,000, which could invite increased bearish pressure and a broader correction.

Bitcoin is showing renewed strength on the 8-hour chart, where it has found solid support at the lower boundary of a broadening wedge pattern, as noted by Whales_Crypto_Trading. This technical setup often signals increased volatility for breakout moves.

After holding the lower edge of the wedge, bullish momentum is building, suggesting that BTC may be preparing for a leg higher. If this momentum sustains, the price could target the $108,000 level.

Whales_Crypto_Trading also revealed that Bitcoin is attempting a bounce from the lower boundary of a descending triangle on the 4-hour chart, an area that is a crucial support zone. Typically, this structure is a continuation pattern that can set the stage for a bullish counter-move. If BTC manages a decisive bounce from this lower support, it might trigger a move toward the $109,000 resistance level, 

Buy Wall Builds Beneath Bitcoin After Key Bounce

As claimed by CW, Bitcoin is flashing bullish signals following a bounce. A buy wall has formed beneath the price, suggesting an increasing demand and trader confidence in holding the BTC uptrend. 

Adding to the bullish case, a Morning Star candlestick has formed on the daily chart, a signal that precedes upward reversals. The emergence of this setup indicates that bearish momentum may be fading, giving bulls an opening to reclaim higher levels. CW highlights that only one sell wall remains at $110,800, and if Bitcoin can break through this level, it might continue its rally.

Featured image from Getty Images, chart from Tradingview.com

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XRP key bullish emanation

In the X Update, renowned cryptography analyst Gowanus Monster highlighted the key technology developments of XRP. His analysis shows that the token completed the formation of a bearish descending triangle over multiple time frames. Based on measured movements from this structure, the projected target is around $1.90, suggesting a potentially large retracement as bearish momentum continues to increase.

Zooming out to the weekly chart, the pattern begins to evolve into a well-defined structure with a clear upper and lower boundary. Gowanus Monster noted that the current focus is on identifying higher and lower levels within this channel.

He also pointed out important principles. When price rebounds from the upper boundary of the downward channel fail to reach the lower boundary and instead bottom out early, they often precede a bullish breakout. This subtle behavior, if seen, could set XRP stages to ignite fresh gatherings beyond the channel, defiing current bearish structures.

Bear Trap Scenario: When Sold Out Meets Demand

According to Crypto analyst GEMXBT, XRP has firmly established itself in the short-term downtrend, with price action currently below the 5, 10 and 20th moving averages. This consistency of moving averages is a classic indication of sustained bearish momentum, suggesting that sellers will continue to dominate the market in the near future.

Currently, the relative strength index (RSI) is immersed in the zone sold, suggesting an imminent reversal or integration period as the market seeks equilibrium. Meanwhile, the MACD line remains below the signal line, indicating that the negative side pressure will persist, indicating that potential recovery may face headwinds.

From a price structure perspective, GEMXBT has identified key support around $2.15. This could serve as an important level for buyers to intervene and defend. Conversely, resistance is near $2.25. This is the zone the Bulls need to retrieve to change their short-term emotions. The recent increase in trading volume is noteworthy. This is noteworthy as it could result in more volatility in the previous session if support fails or if it promotes a sudden recovery if sentiment reverses.