Bitcoin Price Watch: Range Narrows as Traders Brace for Powell's Jackson Hole Visit
As of Aug. 20, 2025, bitcoin is trading for between $113,524 and $113,882 per coin over the last hour, with a 24-hour intraday price range between $112,647 and $115,789. The leading cryptocurrency commands a $2.26 trillion market cap and saw $45.41 billion in trading volume over the past day, as price consolidates near a crucial support level amid technical and macro headwinds.
Bitcoin
Price action on bitcoin‘s daily chart points to a clear downtrend following a sharp rejection at $124,517. This level marked the peak of a double-top pattern that has since triggered a series of lower highs and declining closes. A significant volume spike at the local high confirms distribution, while recent candles suggest hesitation at the $112,000–$113,000 support zone. This level also aligns with prior demand and a short-term bounce, making it pivotal for potential reversal attempts. Failure to hold this support could open the door for a deeper retracement toward and below the psychological $110,000 level.

Mid-term signals from the 4-hour bitcoin chart continue to reflect a controlled downtrend channel that began on Aug. 13. A modest bounce from $112,580 has emerged, but remains unconvincing without a breakout above the $115,500–$116,000 resistance band. Volume clusters around recent lows hint at possible capitulation, yet the absence of bullish momentum suggests caution. A sustained close above $116,000 would mark the first indication of a trend shift, while rejection from this zone could invite renewed selling pressure.

Zooming into the 1-hour chart, bitcoin appears to be forming a potential bottom, with recent candles posting higher lows and marginally higher highs. The price remains supported around $113,000, with visible indecision reflected in declining volume. For short-term traders, range-based strategies may offer opportunities, particularly for scalping long entries near support and exiting near the $114,500–$115,000 ceiling. However, should this upper boundary reject with strong volume, short positions could reassert dominance.

Momentum indicators paint a mixed but slightly bearish picture. The relative strength index (RSI) sits at 43, indicating neutral conditions, while the Stochastic oscillator also reads 14, similarly neutral. The commodity channel index (CCI) at −96 and average directional index (ADX) at 19 reflect weak directional momentum. Notably, both the momentum indicator at −5,526 and the moving average convergence divergence (MACD) at −66 are flashing bearish signals, adding downside bias to the short-term outlook.
Bitcoin’s latest pullback reflects a combination of institutional repositioning, technical breakdowns, and the current investor caution in the air. Strategy’s announcement of eased share issuance restrictions fueled fears of dilution, dragging sentiment lower as its stock slid 7.4% against the U.S. dollar. At the same time, a breach of the $114,500 support level activated algorithmic sell orders and massive liquidations, compounding downside pressure.
Further, U.S. spot bitcoin exchange-traded funds (ETFs) posted $523 million in net outflows on Aug. 19, led by Fidelity and Grayscale, reducing market liquidity ahead of macroeconomic catalysts like Federal Reserve Chair Jerome Powell’s upcoming Jackson Hole address. Powell’s Jackson Hole speech is expected to significantly influence markets. If he signals prolonged high interest rates or a hawkish stance, equities, crypto, precious metals, and bonds may see volatility or declines. Conversely, hints of rate cuts or dovish comments could lift markets and boost investor sentiment.
Bull Verdict:
If bitcoin maintains support above $112,500 and breaks decisively through $116,000 with rising volume, the recent downtrend could give way to a mid-term recovery. A sustained close above this resistance would validate accumulation patterns and potentially initiate a retest of the $118,000–$120,000 zone.
Bear Verdict:
Failure to hold the $112,000–$112,500 support band, particularly under growing ETF outflows and bearish momentum, may accelerate downside toward $110,000 or lower. Without a clear bullish reversal signal, bitcoin remains vulnerable to continued selling pressure and broader market risk sentiment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SOL Up 25.65% as On-Chain Metrics and Ecosystem Growth Signal Strong Momentum
- Solana (SOL) surged 25.65% in 24 hours, driven by 100M+ daily transactions and 40% weekly growth in DeFi/NFT usage. - Ecosystem expansion includes new Solana Foundation open-source funding, rising validator count, and reduced transaction latency. - On-chain metrics show bullish momentum: $180+ price consolidation, tighter MVRV ratio, and 30% decline in short-term selling. - Analysts highlight Solana's scalability advantages and lack of bearish divergences as factors supporting continued price strength.

PetroChina's Profit Decline: A Strategic Inflection Point Amid Energy Transition
- PetroChina's 2025 H1 net profit fell 5.4% due to 14.5% lower crude prices and 12.8% refining revenue decline amid shifting energy demand. - The company counters challenges through 30 GW renewable expansion, hydrogen infrastructure, and partnerships with IBM/Huawei for AI-driven sustainability. - Maintaining 52.2% dividend payout ratio contrasts with peers like Sinopec, prioritizing operational flexibility over aggressive shareholder returns. - Strategic bets include ¥3B fusion tech investment and 50% ren

Gucci Bets on Blockchain to Win Tomorrow’s Luxury Consumers
- Luxury brand Gucci launches crypto payments (BTC/ETH) in select markets, aligning with its digital transformation strategy to attract tech-savvy younger consumers. - The pilot partners with fintech firms to convert digital assets to fiat currency, ensuring secure transactions while maintaining traditional payment options. - Analysts view this as a potential industry precedent, though challenges like crypto volatility and regulatory uncertainty remain significant concerns for adoption. - Gucci will evalua

Asia’s Stablecoin Revolution: How PetroChina and Ripple’s RLUSD Are Reshaping Cross-Border Trade and Investment Opportunities
- PetroChina adopts stablecoins for cross-border energy trade via Hong Kong's 100% reserve-backed framework, aiming to cut USD reliance and reduce transaction costs by 40%. - Ripple's RLUSD, compliant with NYDFS/FSA, enables real-time $0.0002 transactions, slashing settlement times and costs for institutions like SBI and Standard Chartered. - Hong Kong's $25M capital requirement and China's yuan internationalization strategy drive stablecoin adoption, with RLUSD processing $10B+ volume since 2024. - Regula

Trending news
MoreCrypto prices
More








