Bitcoin’s been on a rollercoaster ride, and it’s not even wearing a seatbelt. The price just bounced off the $118K supply zone like a toddler rejecting broccoli. Now it’s teetering at a crossroads, where the invisible tug-of-war between buyers and sellers will decide if it’s a hero or a zero. Spoiler: the market’s as unpredictable as a cat with a laser pointer.
Technical Analysis
By Shayan (probably still crying about the 2017 bull run)
The Daily Chart
Bitcoin tried to flex near $118K but got rejected like a bad Tinder profile. The daily chart shows it’s stuck in a descending channel, a crypto version of Groundhog Day. After multiple failed attempts to break above $120K, it’s now clinging to the $111K-$110K demand zone like a koala to eucalyptus. The 100-day moving average at $111K is its last hope for support-hold that line, or it’s heading toward the $107K-$105K “I-give-up” zone. 🐢
The 4-Hour Chart
The 4-hour chart is a drama queen. Bitcoin tried to breakout above $117K-$118K but got smacked back down like a raccoon in a buffet. Now it’s testing the $111.5K-$111K demand zone, where buyers are throwing confetti just to keep it from panicking. If they hold their ground, Bitcoin might flirt with $115K again. But if they flinch? Say hello to $108K-$107K, where the ghosts of 2023 haunt every candlestick. 👻
Sentiment Analysis
By Shayan (still not investing in Dogecoin)
Bitcoin’s funding rates are like a pendulum: wild in December 2024, then chill in August 2025, and now… back to “meh.” In December, traders were all-in on longs, like a casino that forgot to set limits. The result? A crash so brutal, even the bears got whiplash. 🐆 But in August, the market played it cooler, funding rates stayed sane, and the correction was less of a cliff dive and more of a gentle slide. Now, funding rates are creeping up again-buyers are back, but they’re not exactly sprinting. If they keep this up, Bitcoin might just flirt with $110K and walk away. If not? Well, let’s not jinx it. 🤞
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2025-09-24 18:56